Posts Tagged ‘deficit’

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Debt Limit - A Guide To American Federal Debt Made Easy

A satirical short film taking a look at the national debt and how it applies to just one family

http://www.youtube.com/watch?v=Li0no7O9zmE

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

How to Downsize Government

Make Your Own Spending Chart at Federal Spending Charts

The tool allows the user to chart federal outlays 1970-2015 for chosen departments and agencies within departments. All data is OMB converted to 2015$.

The Social Security Trust Fund Is An Accounting Fiction

The Trust Fund Myth

People tend to think of their Social Security benefits as an actual account, in their name, which contains cash or investments. In reality, the Social Security trust fund contains nothing more than IOUs that have no value beyond a promise to impose higher taxes on future workers. The annual surpluses that many thought were being used to build up a reserve for Baby Boomers have been spent on other government programs or to reduce government debt.

Pay-As-You-Go System

Social Security is not like a savings account in which payroll taxes are saved for retirement. Social Security is a pay-as-you-go system, meaning that the taxes paid by today’s workers are immediately sent out to pay the benefits of today’s retirees.

The problem with this system is that it only functions when there are a lot of workers paying payroll taxes and just a few retired people getting benefits. This is no longer the case. Our senior population is growing much faster than our working population and this means there are fewer and fewer workers supporting more and more retirees.

No Cash Is Being Saved . . .

Read more from the US Chamber of Commerce

The Path to Prosperity by Paul Ryan

The Path to Prosperity (Episode 1): America’s two futures, visualized
http://www.youtube.com/watch?v=Xwv5EbxXSmE

The Path to Prosperity (Episode 2): Saving Medicare, Visualized
http://www.youtube.com/watch?v=DJIC7kEq6kw

Path to Prosperity (Episode 3): 3 Steps to Pro-Growth Tax Reform — VISUALIZED
http://www.youtube.com/watch?v=2Aewj_IndN4

Guess Who Said This In 2006

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

by Senator Barack H. Obama, March 20, 2006

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

I could end the deficit in five minutes


#Picture
https://www.pinterest.com/mkegop/

Cut a Penny from the Budget

–SNIP– But if you are an anti-tax conservative who sincerely believes that you have to cut spending and not “feed the beast” with more revenues, then one approach on spending cuts for the super committee to consider is the simple and creative “Penny Plan” introduced by Rep. Connie Mack, R-Fla.

Mr. Mack’s bill, H.R. 1848, would cut one penny out of every dollar actually spent by the federal government from year to year for the next six years, from FY 2012-FY 2017.

Beginning in FY 2018, there would be a budget cap of 18 percent of GDP (the average federal revenue as a percentage of GDP over the past 30 years). And by FY 2019, America would finally have a balanced budget — that is, assuming revenues naturally increase from the current 14.8 percent of GDP to 18 percent of GDP by 2019, after which the budget would be in surplus.

There is an automatic spending cut “trigger” under Mack’s plan — one he came up with well before the trigger used in the recently passed national debt ceiling bill.

If Congress failed to enact a budget implementing the 1 percent actual spending cut required under Mack’s measure, then there would be automatic, across-the-board actual cuts in all federal programs to meet the 1 percent reduction, and that means all: in defense, Social Security, Medicare, Food Stamps, defense, and national security spending. Everything.

Read more by Lanny Davis at NewsMax.com

The Mack Penny Plan

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Our National Debt


USADebtClock.com

At least our state budget is getting better. Thanks Governor Walker!

Republicans on Twitter
RPMC Events Calendar
Talk Show Hosts on Twitter