Some of the Reasons Why the "Staggering" Federal Budget Is So Staggering
Nick Gillespie | February 6, 2007, 3:01pm
Rep. Ike Skelton (D-Mo.) calls President Bush's proposed budget "staggering," which it is. And will likely be even worse once the new majority has gone through the thing. Some highlights/lowlights via the Wash Times:
Projects revenue of $2.662 trillion and spending of $2.902 trillion, for a deficit of $240 billion.
Spends $410 million to help the Internal Revenue Service collect taxes and tweaks tax rules -- which the administration says could help collect $29 billion over 10 years in unpaid taxes.
Calls for Medicare spending to rise at 6.7 percent annually over the next decade, down from the current projection of 7.4 percent, and for smaller reductions in Medicaid, for savings of $96 billion over five years.
Pushes back the start date for private accounts in Social Security another two years, to 2012 -- a recognition that Congress is unlikely to approve such a program any time soon.
Includes Mr. Bush's proposals for boosting alternative fuels to help decrease the use of gasoline, and his new health care proposal, which would amount to a tax cut on most Americans but a tax increase on those with the most generous health insurance plans.
Calls for slashing 141 programs, which would save $12 billion in 2008.
Awright, we'll save $12 billion on what will likely be a $3 trillion budget in just two years!. More here.
John | February 6, 2007, 3:25pm | #
"Projects revenue of $2.662 trillion and spending of $2.902 trillion, for a deficit of $240 billion"
And we need to raise taxes why? Because 2.6 trillion is not enough to run the government?
"Spends $410 million to help the Internal Revenue Service collect taxes and tweaks tax rules -- which the administration says could help collect $29 billion over 10 years in unpaid taxes."
The IRS does have to collect taxes. I seriously doubt that this program will collect $29 billion in revenue. That said, what is the point of this being on there? So what, at least the money is being spent on a government function, collecting taxes, rather than just lining the pockets of connected good ole boys.
"Calls for Medicare spending to rise at 6.7 percent annually over the next decade, down from the current projection of 7.4 percent, and for smaller reductions in Medicaid, for savings of $96 billion over five years."
In Congressional speak that is actually a cut. We found that out in the mid 1990s when we learned that cutting the projected growth of a program is really cutting spending to the program. I guess Reason is angry that Bush plans to kick grandma out of the hospital. Hey, I would love to really cut medicare spending as much as the next person, would someone please explain how that can be done in this political environment? And after you are done, use your super human powers to do something easy like cure cancer.
"Pushes back the start date for private accounts in Social Security another two years, to 2012 -- a recognition that Congress is unlikely to approve such a program any time soon."
Privatization is a great idea. No one in Congress in either party will vote for it.
" Includes Mr. Bush's proposals for boosting alternative fuels to help decrease the use of gasoline, and his new health care proposal, which would amount to a tax cut on most Americans but a tax increase on those with the most generous health insurance plans. "
Give aways for alternative fuels is a bad idea. The tax stuff is hard to tell anything about.
"Calls for slashing 141 programs, which would save $12 billion in 2008."
It is a start. A small one, but a start.
Considering the tone of most of Reason, I figured they would have come up with a list of ways that Bush plans to kill puppies and break into Mangu Ward's dresser and sniff her underwear. What exactly is supposed to be so outragous about this?
