Forum Discussion
Yosemite_Sam1
Aug 07, 2019Explorer
westernrvparkowner wrote:Yosemite Sam1 wrote:Just a point of clarification, the budget, the deficit, and anything else regarding spending does not solely lie at the foot of any president. Constitutionally, spending is tasked to the congress. There is more than enough blame to spread around the entire legislative and executive branches of government when it comes to spending. Personally, calling what we have now "Budgeting" is an insult to anyone outside of government who has ever prepared, lived or operated under a true budget.westernrvparkowner wrote:
Some very interesting concepts. However, you need to define Tax loophole to begin with. Items like mortgage interest deductions, earned income credits, charitable deductions, solar car rebates etc. Are all "loopholes" under many definitions. They won't go away easily, just look at the uproar over limiting, not eliminating, state and local property tax deductions. Even if you can actually get that 1.4 trillion dollars in actual tax revenues, spending it on those programs you named would still leaves the US with a trillion dollar annual deficits. Eventually something will have to give.
I cannot say with any certainty that the US acting as world policeman is a great idea, but 80 years ago the collective world though it was a great idea to practice "mind our own business" and we ended up with Nazi Germany and Imperialist Japan. A similiar outcome with the added threat of nuclear weapons is a world no one shoul even contemplate.
No one is advocating an abrupt implementation. Are you kidding me, my bottom line will hurt too if this happens, lol.
But joking aside, Trump's deficit is $1 trillion. So conceptually eliminating the $1.4 trillion will erase the deficit with left over for debt pay down and better healthcare.
I was specific on the Gulf Straight where because of our so-called oil sufficiency makes it unnecessary for us to be patrolling it. China is still a threat but we should patrol the China and Philippine sea with other Asian countries, Australia and European countries who are having brisk business in the region. Again, conceptually and in practicality.
Except that the budget is the economic blueprint and fiscal management program of the current administration.
The Executive proposes, Congress disposes (in default unless it wants to paralyze the government with a shutdown).
The cause of the $1 trillion deficit is largely caused by the current administration and his party's new tax laws and tax cuts (Trickle down or Reaganomics on steroids Part III).
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