The 2008 Budget

[OrangeEmpire]

The President sent to Congress his version of the FY 2008 budget.

view it here

Now a couple of numbers need to be pointed out:

2.9 trillion dollars… or 2,900 billion

Of that ‘only’ 554 billion is for security
Other discretionary spending is 376 bill for a total of 930 billion…

So 930 billion (32%) out of 2,900 billion is spending that we can have any “discretion” over…this is where most if not all the ‘earmarks’ come from.

So…the other 2,000 billion (68%) (okay 1,970 billion) is non-discretionary…

Which is…

Social Security 608 billion (21% of the total budget)
Medicare 386 billion (13.3% of the total budget)
Medicaid 209 billion (7% of the total budget)
‘other’ 324 billion (11% of the total budget)

Oh, and interest: 261 billion (9% of the total budget)

The deficit for FY2008 is 238 billion (8% of the total budget)

Soooo… a total across the board cut of 8% and we balance the budget.

But we only have “discretion” over 32% of the budget…so to balance the budget we’d need to cut 238 billion from 930 billion or 25.6% of all “discretionary” spending.

It was my understadning there was to be no math...

Thoughts?

 

[TennTradition]

The President sent to Congress his version of the FY 2008 budget.

view it here

Now a couple of numbers need to be pointed out:

2.9 trillion dollars… or 2,900 billion

Of that ‘only’ 554 billion is for security
Other discretionary spending is 376 bill for a total of 930 billion…

So 930 billion (32%) out of 2,900 billion is spending that we can have any “discretion” over…this is where most if not all the ‘earmarks’ come from.

So…the other 2,000 billion (68%) (okay 1,970 billion) is non-discretionary…

Which is…

Social Security 608 billion (21% of the total budget)
Medicare 386 billion (13.3% of the total budget)
Medicaid 209 billion (7% of the total budget)
‘other’ 324 billion (11% of the total budget)

Oh, and interest: 261 billion (9% of the total budget)

The deficit for FY2008 is 238 billion (8% of the total budget)

Soooo… a total across the board cut of 8% and we balance the budget.

But we only have “discretion” over 32% of the budget…so to balance the budget we’d need to cut 238 billion from 930 billion or 25.6% of all “discretionary” spending.

It was my understadning there was to be no math...

Thoughts?

wow

 

[volinbham]

Quite a few mind-blowing numbers in there.

Such as 43% of the budget for Social Security, Medicare and Medicaid...

I wish we could have an honest debate about these items. The budget calls for reductions in the rate of growth of these items - in other words, not cutting the amount spent (that will still go up) but cutting how fast they go up. Unfortunately, this is spun by the opposition party as "cuts" as in Bush wants to cut medicare to pay for his war. The Republicans do the same thing so I'm not singling out the Dems.

 

[volinbham]

Soooo… a total across the board cut of 8% and we balance the budget.

Alternatively, you could grow revenues by $238 billion!

Now, we just have to fight over 1) raises taxes, 2) grow the economy, 3) lower taxes

 

[CSpindizzy]

Well lower taxes didn't do much for the increased budget so that argument is out the door. I'm all for Arthur Anderson coming in here and auditing the government from top to bottom...oh, wait...bad idea. You'd think THEY were already doing the accounting here.

 

[volinbham]

Lowered taxes did increase revenue (via their stimulative effect on the economy). The problem is that Congress and the Administration have been more spend happy than ever.

 

[CSpindizzy]

So where are the conservatives? And will they run for President? And Congress?