10 Spending Cuts

By Free Republic | Created at 2024-11-17 13:35:29 | Updated at 2024-11-17 15:54:13 2 hours ago

10 Spending Cuts
The Cato Institute ^ | 11/8/2024 | Chris Edwards

Posted on 11/17/2024 5:24:49 AM PST by tarpit

Coming into office next year, Donald Trump will face massive budget deficits of $2 trillion a year and rising. Trump and every member of Congress now know that excessive deficits and spending can spike inflation, which is very unpopular with voters. The president and his budget team must find spending cuts to tackle the deficit monster.

a However, Trump wants tax cuts, which would increase deficits. He also doesn’t want to cut Social Security or Medicare, and he may increase defense spending. Those are the three largest programs

(Excerpt) Read more at cato.org ...

TOPICS: Business/Economy; Government
KEYWORDS:

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Approximately 3.5 trillion was added to the budget for Covid between 2020 and 2021. Without a balanced budget, you get the same prior year budget plus a small percentage change usually). This is why congress doesn’t really want to approve a budget. Every year they get more to spend.

So like tarp, they say it is a onetime budget increase, but then don’t balance the budget so they get the same amount +- small percentage without having to account for “wait that was a one time thing”.

Trump could say, hey let’s start over at 2009 pre tarp level, account for normal increases, and then that should be the starting point of the current budget. Of course, congress will do as it pleases.

1 posted on 11/17/2024 5:24:49 AM PST by tarpit

To: tarpit

Undo everything Biden and the Democrats did between 2020 and 2021.

2 posted on 11/17/2024 5:30:01 AM PST by MNJohnnie (Don't blame me, my congressman is MTG!)

To: MNJohnnie

3 posted on 11/17/2024 5:30:14 AM PST by MNJohnnie (Don't blame me, my congressman is MTG!)

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