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[Americas] Where are we leaking money

Discussion in 'Issues Around the World' started by ethics, Apr 11, 2010.

  1. ethics

    ethics Pomp-Dumpster Staff Member

  2. Sir Joseph

    Sir Joseph Registered User

    Interesting poll, but the two graphs are apples and oranges so you can't compare them to each other.
  3. Biker

    Biker Administrator Staff Member

    You most certainly can compare the two. And it shows perfectly how out of touch JQ Public is when it comes to government spending.
  4. cmhbob

    cmhbob Did...did I do that? Staff Member

    It would have been better if both graphs used the same terms/names. "National Institutes of Health" is not just "Health Research." "National Defense" could also include DHS, but they're not represented at all on the budget side. HUD does more than just "housing."

    It's poorly constructed.
  5. Sir Joseph

    Sir Joseph Registered User

    One graph is where people would be willing to cut, the other is a percentage of where the budget is. To compare apples to apples, we would need to see the allocation by department JQ Public would do. The graph states that most people would be willing to cut foreign aid, but the other graph just says that foreign aid is a small portion of the budget.
  6. Biker

    Biker Administrator Staff Member

    Exactly. Which shows that JQ Public is totally clueless when it comes to what the government actually spends, and where the cuts would do the most good.
  7. ethics

    ethics Pomp-Dumpster Staff Member

    That's the point!!!
  8. mikeky

    mikeky Member

    What would the conservatives here recommend cutting to make the biggest difference? Social Security? Defence? Medicare?
  9. Steve

    Steve Is that it, then?

    Get the federal government out of education. Get it out of providing and paying for health care. Get it out of receiving payments into the SS Trust Fund.
  10. ethics

    ethics Pomp-Dumpster Staff Member

    “To avoid large and unsustainable budget deficits, the nation must choose among higher taxes, modifications to entitlement programs such as Social Security and Medicare, less spending on everything else from education to defense, or some combination of the above.” --Bernanke last Wednesday
  11. Greg

    Greg Full Member

    The two things aren't exactly on a par but I see some reasonable correlations, good enough to draw conclusions.

    People are pissed off about giving money to foreign aid although the budget is relatively low. It suggests that foreign aid is a hot button issue out of proportion to its importance to the budget.

    Social Security is a big part of the budget but 11th on the willing to cut list. Those getting or near getting it are committed, too late to change for them. There must be some compassion from those not getting it, perhaps realizing all the people who will get screwed if SS spending is cut.

    I'm a little surprised that defense isn't higher on the willing to cut list. Defense of course is a PC word combining both defense and offense, perhaps based upon the adage "the best defense is a good offense." Of course it's a matter of perspective as to whether you believe the offense is justified. Or if not it could save a really, really lot of money in the budget since defense is #2 expenditure right behind Social Security.

    Jeez, I just don't know where they piddle that money away. I kind of wish we could do a bit more negotiating and a bit more coordination with the rest of the world community, instead of war.
  12. Stiofan

    Stiofan Master Po

    One of the largest expenditures isn't even on that chart.

    Over the last 20 years the interest on the federal debt has averaged approximately $345,000,000.000. That's 345 billion per year. In the first 6 months of fiscal 2010 it has totaled just over $201,000,000,000 so it will end up pretty high. That's what the government has paid to countries like China to hold our paper. Year in, year out.

    So Israel gets $2.5 billion. Small potatoes.

    The real question is when is the federal government going to stop spending money we don't have? When are we going to get a smaller government?

  13. Greg

    Greg Full Member

    Good catch. Good post.
  14. ethics

    ethics Pomp-Dumpster Staff Member

    Excellent point!
  15. mikeky

    mikeky Member

    This seems to fit.
  16. Techie2000

    Techie2000 The crowd would sing:

    Though certainly true, debt service is not an optional obligation that we can cut simply because the taxpayers decide to, and in order to reduce the debt obligations or at least keep them from getting larger we are back at the originally enumerated options.
  17. Copzilla

    Copzilla dangerous animal Staff Member

    And Bernanke would be correct.

    But understand a long journey begins with a single step. We MUST stop these billion dollar giveaways as well, as 1) it all adds up, and 2) it just perpetuates this entitlement mentality.
  18. Greg

    Greg Full Member

    I'm not sure if my comments fit here within the topic but I just want to comment about something that I've been mulling over for months.

    Nationally we have a very big problem, which is all the overvalued homes that have now sunk in value, all the upside-down mortgages, all the debt that will likely never be repaid.

    I submit that the government is fighting a delaying tactic, just helping as few as possible or the most that they can help, knowing full well that the total extent of the mortgage crisis is yet to come.

    I submit that they are fighting to just keep the market stable enough that the prices don't fall through the floor and cause a home crisis where nobody will be able to sell a home, and consequently nobody will be able to get a mortgage and buy a home. The market could become paralyzed, stagnant, non-functional.

    I'm worried that I may have spoken aloud something that most would rather pretend isn't happening. Home values are hemorrhaging. We may be yet far from bottoming out.
  19. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    Tell you guys what, I've commented in the past about the massive waste that gets generated in the military procurement system--we're talking billions and billions per year. I'm obviously a big-time hawk because a lot of times what we wind up with is absolutely indispenable when it's finally needed, but that doesn't mean I'm willing to fritter away billions of dollars and hundreds of thousands of man-hours trying to ramrod something through a system that's essentially broken and non-responsive.

    But you know what? Compared to the social security fracas, reforming the military procurement system isn't even a drop in the bucket. Unlike the SSA though, it's easier to fix... but not as effective.

    So at the least, I'm willing to make some changes to an important portion of a vital American institution. But where is everyone else?

  20. ethics

    ethics Pomp-Dumpster Staff Member

    Seems reasonable. Will America go for it though? Will retirees support it? Will other hawks support it?

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