Old budget was $3747.36 billion ($2672.527 billion in spending, $1074.833 billion in tax expenditures and cuts). 1 New budget is $3540.25 billion ($2461.3 billion in spending, $1078.95 billion in tax expenditures and cuts). 2 You have cut the deficit by $207.11 billion. 3 Your new deficit is $193.89 billion. 2 Spending ($2461.3 billion: cut $211.22 billion) $312.27 billion.... Military Spending Cut $133.83 bil. from base of $446.105 bil.(-30%) $67.11 billion ..... Iraq War and Afghanistan Operations Cut $44.73 bil. from base of $111.851 bil.(-40%) $115.48 billion .... Veterans & Retired Military Pensions and Services (No Change) $31.59 billion ..... International Affairs (No Change) $23.97 billion …show more content…
I wanted to spend a little more on this to balance the budget. I think this is necessary to prepare for our future and is very reasonable. I think most people would be happy with this because we need a plan for future energy resources. I cut transportation and community and regional development because I do not think they need as much money as they were getting. I don’t think people would be very happy with this and I do not think it would be a very realistic cut, because we need a lot of money for these programs due to upkeep for our roads and community and it is essential to Americans that we have reliable ways to get places. Education is important to our future and making sure people can get jobs and is the base to our country’s success, which is why I increased their spending. I think this is realistic and most people would be happy with this. We always want to have better schools and teachers so children can get better educations. I decreased Non-Medicare health spending, because they were spending a lot of money that was not necessary. I do not believe that this is all that realistic, because we need money to pay for medical research and medications. I do not think people would be happy with this, because they want to be taken care of. I decided to increase aid to low-income families so that people who need help can get it to support their families. I think this
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But having a budget is a good step in the right direction. Continuous reexamination is necessary to keep the budget on track. A potential reform for the federal budget is the switch from a short-term budget perspective to a long-term perspective (Budget & Projections, 2015, p. 1). This switch can be beneficial for several reasons. The main beneficial reason is having a greater outlook. Having a greater outlook on future budgetary effects can help policymakers make better-informed decisions in regards to the federal budget. Another potential reform for the budget is to commit and concentrate on spending control. In order to reduce the debt, spending must be under control. A good policy must be in place to ensure the control on spending is a continuous effort by the
During the activity, I chose federal budget cuts for domestic programs and foreign aid. I cut foreign aid in half. I do not think that America needs to help the world anymore. We have already helped out a lot and we should only help towards people that really need it, such as starving Africans, instead of funding wars overseas. I cut the pay of civilian federal workers by 5 percent. People in the federal government get paid more and more every year while citizens of our country get paid a lower minimum wage than a lot of other places in the world. I cut 250,000 government contractors. There are more contractors than government officials, which means more money spent on a government that does not fully have the needs of the country in mind. In addition, I chose federal budget cuts for the military. I reduced the number of troops in Iraq and Afghanistan to 30,000 by 2013. We do not need the troops in Iraq or Afghanistan anymore. The war is over. Let the country figure out what it needs to do by itself. We helped create the uprising there, so we can help diminish it by reducing troops. I also chose federal budget cuts for healthcare. I enacted medical malpractice reform. I think it is important that our doctors research as much as they can about a procedure or a medicine, so that they can provide the proper care for a patient and reduce the risk of getting sued.
The middle five includes: Veterans benefits and services, Transportation, Education, Justice, and Homeland Security. It is hard to look at these, and try to decipher which ones could be cut in order to provide more in other categories, because they all serve a different purpose in supporting each different goal of our preamble. One point that is evident is that there is not enough money going to education from the federal government. Referring back to Document D of the DBQ packet the federal government is contributing only 1.8% of the budget to the education system. Being able to fund education is so incredibly important because the education that is provided to the children in the US is what shapes and forms the future of America. Not being able to provide these kids with a proper education is a matter that will ultimately have a negative effect on the country. That being said it’s hard to decide where the money needed to better the education system should be taken from, seeing as the big five has already been deciphered, and the five different categories here in the middle cluster are all so important. The most substantial chunk of the money here in the middle five is going to veterans benefits and services, and at first thought, it does seem that maybe some money could be taken from there. However, when one thoroughly analyzes where that money is going to (medical costs, support for
For Science and Technology: $10 billion for new scientific facilities (increase) and $6 billion to improve internet access in rural areas (Increase). For the Infrastructure: it included $30 billion for highways (Increase), $31 billion to modernize federal buildings and infrastructure(Stimulate) , $19 billion for clean water (Stimulate), and other environmental investments, and $10 billion to improve public transit and rail infrastructure(Stimulate) . For Education: $41 billion for local school districts(Increase) , $79 billion to maintain schools (Stimulate) , $15.6 billion to broaden the federal Pell Grant program (need based grants to fund education)(Increase), and $6 billion to modernize higher education programs(Stimulate). For Health Care: $87 billion for Medicaid (Increase), $20 billion to improve technology in the medical field (Increase), and $4 billion to improve preventative care (increase). The plan also includes $140 billion directed towards tax cuts of $500 per worker or $1,000 per family over two years, expand tax credits for working poor with children, and a $2,500 college tuition credit. All of this is a part of the G in the C+I+G+Xn, GDP Formula. Gsavings= Taxes -Gov’t Spending-Xn (Exports – Imports). The Treasury’s $700 Billion in TARP funds, which were originally aimed at stabilizing the financial sector, should be used to provide relief to other industries and “for things that look more like stimulus and less like asset purchases.” Some of the things that this includes is: Automatic economic stabilizers like the extension of unemployment insurance, the expansion of health insurance, Mortgage relief for those American’s facing default, the federal reserve’s purchase of mortgage-backed securities and other types of securities in need in the future, and an
There has always been a constant battle between how the government’s spends its funds, whether how the funds will be used for school, or for social services, it is an item that holds great weight when discussed. The Economy is discussed in numerous ways by both platforms. The Texas Republican platform mentions that government spending must be addressed. They discuss in depth how to address the issue of overspending and deliberate on several tax
3). Trump further pointed out that large fractions of the US annual budgets are set aside to finance the international economic obligations of the country. As such, the Republicans pointed out that cutting such parts of the budget would help to boost the American economy and to reduce budget deficits.
Spending and Revenue are divided into ten categories, such as Investments, General Government, etc. Choose three spending categories and one revenue category to write about. What decisions to spend or cut did you make in each of the categories that you chose? Explain your choices. Be sure to read the pro/con arguments for each decision. Which arguments did you find most convincing?
With that being said, one would wonder if all the categories in the Big Five are equally distributed or if the money that is out in one category could be better spent in a different category. One might think that the national debt should be increased. It is essential that the national debt be increased since the country is in deep debt. As stated in Document C, the U.S has more than $10 trillion in debt. Being so deep in debt can disturb our already fragile economy and borrowing additional money can threaten the livelihoods of Americans. One category that could be decreased is Defense. The cartoon in Document F shows President Obama writing the budget, and three figures standing before him, two small ones and one big
Health care system has evolved tremendously in the last few years, with many changes with the health care laws including but not limited to Universal Health Care, many individuals have choices when it comes to their coverage. According to healthcare.gov, in January of 2015, an employer with 50 or more full time employees will have to make an Employer Shared Responsibility Payment if a full time employee gets a lower health coverage premium cost if insurance is purchase in a marketplace. However, employers are not subject to this law if the numbers of employees are lesser than 50 but are still
For the economy, I want to strengthen our economy by creating jobs for American workers by ending tax loopholes for corporations. Providing tax cuts to small businesses and investing in a clean-energy economy, while putting Americans to work will rebuild our infrastructure. I would start by providing stimulus for the economy by giving everyone money to spend. When everyone gets the money back, they will simply spend it on products that will put the money back into the economy and jump start the economy and production. I am against waivers for private colleges because it does not work for the less fortunate part of the economy that cannot afford a way of transportation, for their child to get to the private school. The economy needs to cut taxes on small businesses so that those small businesses can grow and growth is what America needs. Part of the way I wish to see America grow is by increasing to our military and keeping us safe, because if we do not insure our safety and security than our efforts to rebuild our economy would have been for nothing.
The biggest cut I made to the national budget was the national resources and environment. This would effect environmentalists, and government departments such as the Environmental Protection Agency. I made this cut, because I felt that there were other areas in the government that needed more attention and priority. I decreased the national resources and environmental spending from 41.6 to 35.6.
I believe our budget must be reviewed. Massive amounts of non-discretionary funding fails to allocate funds in the most efficient way possible. As members of a state government, delegates must seek to construct a balanced, yet effective budget that assists all its citizens equally. However, I believe cutting
At first I was a little bit confused on what we were doing until everyone in the class started to give their opinions and voting. I did not understand very well the one that was about the payments for agricultural producers, but I voted to not keep it. Even though, I did not understand it I saw that everyone was pretty certain about not continuing to give money for this. My peers' opinions influenced my decision. This reminds me of what we talked about in class around 3 weeks ago. We were talking about how some people who do not know Trump or Clinton very well because of the lack of politics involvement, would have voted for Clinton for the way she expressed herself in the debates, even though they do not know what she is