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Originally Posted by dippin
Please list any actual spending cuts that those elected on Tuesday plan to propose. Actual spending cuts that would make an actual dent on the deficit.
I will be waiting.
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It should be interesting.
Particularly, if they extend the Bush tax cuts set to expire this year. Extending the cuts for the top bracket would require around $100 billion spending cuts per year just to offset those tax cuts that were meant to be temporary...so would have no impact on deficit reduction...but would add at least $1/2 trillion to the debt over the next 10 years
Two significant programs up for reauthorization are education funding and transportation funding, both of which in the past have had bi-partisan support.
But many of the new elected Ted Party Republicans campaigned on eliminating the Dept of Education. Cut $50 billion/year of funding to schools? Federal funds make up about 10% of all education funding. So how to make up the shortfall? Raise state taxes, local property taxes? Dont provide the best technologies for schools or programs to upgrade science and math education to keep US competitive?
And how about that highway funding? Postpone long-needed infrastructure improvements of the deteriorating federal highway system (much more than just the Interstate System). Forget the economic impact of letting the infrastructure continue to deteriorate?
Of course, we can now forget about any comprehensive clean energy legislation to reduce our dependency on foreign oil, not to mention putting the US even further behind China, India, Europe in developing new energy technologies. Or just subsidize "drill, baby, drill" with more tax breaks to Exxon and BP, and, reduce federal regulatory oversight at the same time....good, forward thinking plan.
Comprehensive Immigration reform....forget it. Its more politically expedient to keep bitching about those pesky Mexicans taking jobs away from patriotic Americans. Who cares that we could generate $billions in tax revenue by providing a path to citizenship (with penalties) to most of those 12 million illegals already here.
Yep...I'm looking forward to their ideas on how to address the most pressing issues facing the country.