US House Speaker Paul Ryan to stand down


#21

Welcome to the club.

As a sole proprietor, I now get to pay max SS x2.

We shall see as the tide is turned and government will begin paying out more than it collects forcing higher deficits and changes in both SS and Medicare.


#22

My guess is we will get welfare , SNAP , Belmont , HEAP, healthcare , illegals , Medicaid in order before touching SS . There are far too many old farts that have nothing to do but WRITE LETTER , MAKE PHONE CALLS , AND VOTE !!! :wink::laughing::laughing::laughing::laughing:


#23

Unfortunately if you look t spending,
1.2 trillion will be spent on healthcare
1 trillion will be spent on SS/retirements.

Total spending: Projected at 4.2 trillion.

Where do you think most of the spending is done?


#24

Discretionary spending ,Military etc.


#25

Eliminating military spending 100% wouldn’t balance the budget.


#26

Well we know Mandatory spending will be out of control .


#27

Mandatory spending IS out of control .


#28

image

Mandatory spending IS currently out of control. Making it worse is a FED that has suddenly decided to raise interest rates making debt service that much more expensive. We complain about teachers and other public sector workers with their plush gig but boomer’s have designed a system that everyone else is eventually going to pay for… I love the cut the budget but NIMBY mentality… You are right with what you said above though, the older set still know how to write letters and get on the horn and then grumble about how we have left all this for our grandkids to figure out…


#29

Mandatory spending, over half of all spending.
FDR-SS
LBJ-Medicare
LBJ-mediciad
Obama-ACA

Discretionary Budget Myth Busters

The media blames the discretionary budget for deficit spending, which has created a huge national debt. That’s a big concern, now that the debt to GDP ratio is more than 100 percent. What’s the best way to cut the budget deficit? Here are the five biggest myths.

Myth #1: Just stop sending aid to foreign countries.

Fact: The United States only budgeted $1.9 billion on foreign aid for FY 2019. Cutting that wouldn’t do much to reduce the $984 billion budget deficit.

Myth #2: Defense spending should be increased, even if other programs must be cut.

Fact: Total U.S. military spending for FY 2019 is $886 billion.

It includes more than the Department of Defense budget of $597.1 billion. You must also count the $88.9 billion which pays for the War on Terror, including military operations in Iraq, Syria, and the War in Afghanistan. There are five other agencies that support defense that should also be included. They are the FBI and Cybersecurity (in the Justice Department budget), the National Nuclear Security Administration (in the Energy Department budget), Homeland Security, the Department pf Veterans Affairs, and the State Department. They add $181.3 billion to the base budget. They also add $101 billion to the emergency fund. This huge expense must be reduced if the deficit is to be cut in any meaningful way.

Myth #3: If we reduce military spending, the world will think we are weak.

Fact: The U.S. military budget is greater than those of the next 10 largest spenders combined.

The second biggest spender, China, only spent $216 billion. Russia spent $84.5 billion. Our greatest ally, the UK, spent $60.5 billion. That’s less than 10 percent of what the United States did. Many of our allies are enjoying the benefits of a safer world at our expense. President Trump has asked them to pay more, but continues to increase defense spending.

Myth #4: Military spending creates jobs.

Fact: Defense spending is not the best way to create jobs. A UMass-Amherst study found that $1 billion in military spending created 8,555 jobs. The same amount spent on public transit created 19,795 construction jobs. Spending on public works is the most cost-effective unemployment solution.

Myth #5: The best way to balance the budget is to cut entitlement spending.

Fact: Entitlement programs, such as Social Security, Medicare, Medicaid and welfare programs are the biggest portions of the budget. Medicare and Medicaid are growing thanks to higher health care costs. But they were created by Acts of Congress. They can’t be cut without another Act of Congress. That means a majority of Congress would have to agree to change the laws that enabled them. That won’t happen, because it would be political suicide. Current Social Security and Medicare recipients would vote those Congressmen out of office at the next election.

Boomers? No politicians, both parties.