Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts

Monday, December 3, 2012

Republicans are Hysterical Over Puny Cuts in Military Spending


Republicans are practically apoplectic over potential cuts in military spending that could possibly be triggered by the  Budget Act of 2011 (BCA).  Such fears are unfounded, without basis and the actual BCA cuts triggered by sequestration are in fact quite negligible and puny.

How Will The Fiscal Cliff Really Affect Defense? Excerpt:
In August 2011, President Obama signed the Budget Control Act of 2011 (or BCA), which is the law that created the so-called “fiscal cliff” that, if Washington D.C. politicians such as President Obama are to be believed, threatens potential disaster for the U.S. economy.

The BCA combines income tax rate hikes on all Americans and government spending cuts that, unless the federal government acts otherwise, will go into effect in 2013. In that year, the fiscal cliff will lead to an estimated additional $536 billion in tax collections and $500 billion in federal government spending cuts.

Since half of the spending cuts associated with the fiscal cliff would affect the nation’s defense programs, those particular cuts have been a source of concern. What effect might these cuts have on the nation’s security?

The Mercatus Center’s Veronique de Rugy has charted out how the BCA’s mandated spending cuts will affect overall defense spending for the next ten years...

She observes:

"As the chart shows, defense spending has almost doubled in the past decade in current dollar terms and will continue to grow in spite of automatic cuts set by the BCA. Clarifying these figures reveals that sequester cuts do not warrant the fears of policymakers who warn about “savage cuts” to the defense budget."
It's totally insane and fiscally irresponsible for Republicans to be waging such a ferocious battle against very modest military cuts at a time when America could really use some significant cuts in military spending.

Wednesday, August 15, 2012

Muppets and Mittens: Is Romney Trying to Prove that He's Brain Dead?


In an interview with Fortune Magazine, Romney claims he's going to solve our budget problems by cutting funding for PBS, the National Endowment of the Arts and and Amtrak.

Mitt Romney: Slash Amtrak, PBS Funding, But Defense Cuts And Middle Class Tax Cuts Off The Table

The federal government is spending about $3.7 TRILLION a year on tax revenues of about $2.2 trillion. If you are going to be a serious budget cutter, you start with the big ticket items first because that's where you achieve the biggest payback.

Mitt's cuts:

PBS $444 million
National Endowment of the Arts $146 million
Amtrak subsidies $1.56 billion

Now I totally agree that subsidies to PBS and the National Endowment of the Arts should be abolished and I further believe that Amtrak should just be put on the auction block for sale.  But these items are small potatoes in the grand scheme of things.

Romney the Big Governrment Statist, just can't bring himself to even suggest cutting big ticket items that are the real problem.  Ron Paul boldly outlined his plan to cut $1 trillion year one as president.

RON PAUL “PLAN TO RESTORE AMERICA”
SPENDING: Cuts $1 trillion in spending during the first year of Ron Paul’s presidency, eliminating five cabinet departments (Energy, HUD, Commerce, Interior, and Education), abolishing the Transportation Security Administration and returning responsibility for security to private property owners, abolishing corporate subsidies, stopping foreign aid, ending foreign wars, and returning most other spending to 2006 levels.
Ron Paul has an plan to dig us out of our fiscal nightmares. All Romney had to do was just partially or wholly steal Ron Paul's plan. But weasel wimp Mittens opted instead to expose his lack of testicular fortitude.

Not only is Romney pathetically weak when it comes to slashing spending, he turns mega big spender when it comes to massively increasing defense spending by trillions.

Mitt Romney Proposes $8 Trillion Welfare Program for Defense Contractors; Prepare for Two Wars if Romney Wins

Yo Mitt, if you've got a pair, time is running out to show them.  Wimp talk just won't cut in an election where Republicans are already behind in critical swing states.  

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