Limiting spending is a necessary component of reducing the debt. It will never happen without leverage. Beyond paying bond interest and redemptions, it is not necessary to spend more money than taxes and other income sources produce. Starting tomorrow, the Department of Education could be shut down. at least four or more cabinet departments could be shut down or combined to eliminate duplicate functions. There is no need to hire 85,000 IRS agents. That money could be saved or better spent hiring more immigration judges and immigration enforcement agents to reduce the economic and social burden of accommodating millions of illegals. There is no reason to implement the Inflation Reduction Act that wastes federal money on a green new deal and steps up policies that reduce corporate profitability. There are dozens of other wasteful programs that serve no useful purpose. The executive branch has about four million non-military employees. Congress has thousands of employees who essentially do nothing except help lobbyists write suggestions for legislation that does nothing except empower the bureaucrats.
If the administration were serious about controlling expenditures and reducing the debt, the federal workforce would be reduced by thousands through layoffs and eliminating positions. Severance pay and unemployment benefits would be only what is required by law or contract. No backpay if they are recalled or rehired. Instead of cutting useless and redundant expenses, the administration would threaten cut to the military and Medicare and Social Security. They would engage in petty signalling such as closing national parks and monuments as Obama did - okay if accompanied by serious cuts.
Treasury revenues are about $5 trillion per year. Disbursements for Military, Social Security, Medicare, bond interest and bond redemptions total about $3.3 trillion per year. The largest chunk is Social Security. Spending could be reduced. The debt could be reduced but leverage is needed, or nothing will happen.
Unfortunately (or fortunately, depending on ones viewpoint) the Democrats are likely to cave and negotiate something away, 'cause that's what they tend to do.
Limiting spending is a necessary component of reducing the debt. It will never happen without leverage. Beyond paying bond interest and redemptions, it is not necessary to spend more money than taxes and other income sources produce. Starting tomorrow, the Department of Education could be shut down. at least four or more cabinet departments could be shut down or combined to eliminate duplicate functions. There is no need to hire 85,000 IRS agents. That money could be saved or better spent hiring more immigration judges and immigration enforcement agents to reduce the economic and social burden of accommodating millions of illegals. There is no reason to implement the Inflation Reduction Act that wastes federal money on a green new deal and steps up policies that reduce corporate profitability. There are dozens of other wasteful programs that serve no useful purpose. The executive branch has about four million non-military employees. Congress has thousands of employees who essentially do nothing except help lobbyists write suggestions for legislation that does nothing except empower the bureaucrats.
If the administration were serious about controlling expenditures and reducing the debt, the federal workforce would be reduced by thousands through layoffs and eliminating positions. Severance pay and unemployment benefits would be only what is required by law or contract. No backpay if they are recalled or rehired. Instead of cutting useless and redundant expenses, the administration would threaten cut to the military and Medicare and Social Security. They would engage in petty signalling such as closing national parks and monuments as Obama did - okay if accompanied by serious cuts.
Treasury revenues are about $5 trillion per year. Disbursements for Military, Social Security, Medicare, bond interest and bond redemptions total about $3.3 trillion per year. The largest chunk is Social Security. Spending could be reduced. The debt could be reduced but leverage is needed, or nothing will happen.
Unfortunately (or fortunately, depending on ones viewpoint) the Democrats are likely to cave and negotiate something away, 'cause that's what they tend to do.
https://twitter.com/StevenTDennis/status/1656066591707090946?s=20