Monday, November 21, 2011

"Super Committee" Failure to Trim Deficit

As was expected, the "Super Committee" has failed to come to an agreement on how to reduce federal spending. The current federal budget is about $3.5T per year. They were tasked with coming up with saving $1.2T, but it was not $1.2T per year, it was $1.2T over a 10 year period.

It would be easy to save $1.2T over just a single year -- all we would have to do is cut the funding to EVERY federal department by 1/3rd. The government has become too bloated and it needs to be cut back. Cutting everything by a third would be a really good way to start doing this.

Of course, there are some federal departments and expenditures that need to be cut more than others. Some even need to be entirely eliminated. For example, we could entirely eliminate the BATF, IRS, and foreign aid.
  • IRS -- By eliminating the IRS, we could save $13.1B. We need to switch to a strictly consumption based tax system (e.g. FairTax.org) instead of the current repressive income based tax system.

  • BATF --The BATF by it's very definition is an infringement upon our RIGHT to bear arms and as such, is totally unconstitutional. By eliminating the unconstitutional BATF, we would save $1.1B per year.

  • Foreign Aid -- Why should we be supporting foreign governments? Let them sink or swim on their own accord. At best it is just a form of bribery and even so, they aren't honest enough to actually do what we want them to do after we bribe them. It's a waste of money. By getting rid of foreign aid payments, we would be saving $47B per year.


So, just eliminating these three things would save us $61.2B per year, or $612B over 10 years. Only took me 15 minutes of research to save half of what this "Super Committee" was supposed to come up with. Doesn't seem that difficult.

No comments:

Post a Comment