By Thanksgiving, the Congressional "Super Committee" is supposed to come up with $1.2 trillion in debt reduction over the next ten years. The Super Committee can include anything it wants in its package - short-term economic stimulus (like extending unemployment benefits and the payroll tax holiday), revenue increases from curtailing tax breaks, cuts in military or domestic spending, subject only to two constraints. To avoid automatic cuts, the package has to add up to $1.2 trillion in debt reduction over ten years. Also, to avoid automatic cuts, the package has to pass both houses of Congress in December, so the package has to have the property that it can pass the House and Senate.
A plausible and reasonable option would be to curtail future spending on the wars in Iraq and Afghanistan, consistent with keeping existing agreements and commitments to withdraw our troops, rather than replacing these agreements and commitments with agreements to establish permanent military garrisons in Iraq and Afghanistan. Under plausible and moderate assumptions, this would save at least $200 billion over ten years, one-sixth of the Super Committee's debt reduction goal.
Why not bring our men and women home and secure the borders? This would save even more $$$$$
ReplyDeleteAnd raising taxes on the top earners would cover almost half their goal.
ReplyDeleteHow about just cutting the earned income tax credit for all the welfare queens who never paid a dime of tax or earned it. Now that just wouldn't make any sense would it?
ReplyDelete10:56 Independent Obama supporter here. And I've been saying that for years! Instead of providing a net tax giveaway to low-income folks already receiving public assistance, use this money to shore up the entitlements that they are using.
ReplyDeletealthough the whole "welfare queen" crap is bogus
ReplyDeleteI know for fact it's not I have a low life family member who gets back thousands every year for her welfare babies. And only works somewheres long enough to work the system. Rent $15 a month, a check for each fatherless kid and a bonus check at tax time for being a piece of crap.
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