This page is established to debate ways to handle the National Debt.
Here are your inputs.
KEN F: The problem is not balancing a budget, any fool can balance a budget or a check book. Think about it, the problem is "THE CAP", WE NEED A BUDGET CAP. This limits the amount of spending in TOTAL dollars. If you balance thats great but it has to be CAPPED. Just like when I go to the store, my check book has a CAP, it is the last number it my check register. A DECLINING CAP would be best proposed in the ammendment because this woud force the USA into fiscal responsibility. Say 5% per year until the national debt is paid off. Time to get truely serious about it, go for the Decling CAP method.
DAN T: The Constitution does not need to be amended. There was always a balanced budget mechanism until 1913, when the Senate ceased to represent states, our money was debased and rendered fiat, and our income was taxed without regard to apportionment. The Senate being directly elected ended federal government and made it only national government. All federal income was from duties, imposts, excises and tariffs, any shortfalls being covered by apportionment (ex: FL 8% of nat'l population, pays 8% of shortfall, Senators disapprove budget their states can't afford to cover). GATT and NAFTA, not treaties and therefore unconstitutional, ended trade tariffs and duties, allowing cheaply produced foreign-made goods to undercut american-made goods, ending those jobs here, crippling our economy. I'll use oil as an example. OPEC charges us $50 a barrel for oil. If domestic oil costs us $60 a barrel to produce, the fair tariff should be $10 a barrel. This $10 is income for the federal government. The balance of prices allows trade, but protects our different economy from encroachmentĘby slave-labor economies, else we become like them.
Here is my proposal to balance the budget, pay off the debt, and end income tax, giving us (the people) more than enough money to save for our own retirements, therefore eliminating Social(ist) "Security": return to constitutional government!! They are not supposed to just pass bills to grant themselves new powers. Only by amendment can new powers be granted to government, so the list below accounts for many of these usurpations.
I have totaled as best I could, the federal agencies you list that have no constitutional justification. These programs should either not exist at all, or be state-level programs at the highest. These are the programs and their budget in billions:
Corps of Engineers 10; Nat'l Science Foundation 10; EPA 8.3; Int'l Assistance Programs 20; NASA 16.4; Dept. of Energy 22.5; Other Indep. Agencies 23.8; HUD 38.9; Dept. of Education 64.3; Dept. of Labor 57; Soc. Sec. Admin. 50; Dept. of Agriculture 81.8; Health and Human Srvcs. 579.9; TOTAL 982.9; Social Security Payments 504.3 (separate still?)
I'm sure that there are expenditures within other agencies that are not constitutional, but I just eliminated a trillion dollars from outlays! If states wanted to administer programs, they could, at their peril, since other states might not, or might try something that turns out to be better, thereby finding out what works best, like education for instance. With one system, we never try other ideas, only one at a time, and the solution to ineffectiveness is always more money. Anyway, with a trillion gone from the "federal" budget, we're close to ending the "need" for income tax. And with tariffs keeping our economy protected from international encroachment and funding government, we would be in fabulous shape.
There you have it!! Not easy, perhaps, but really quite simple.
KARL R: In 1983 our government in its wisdom FIXED Social Security. Instead of putting the surpluses in a LOCKBOX (I.e. an asset fund) which could earn REAL money (interest) our law givers decided to issue government I.O.U.'s (paper) and spend the surpluses. When President Bush took office there was a substantial surplus. Instead of using some of this surplus to bolster Social Security, he decided to squander it on TAX cuts which mainly benefited the rich. It is time to reverse these policies and put our FISCAL AFFAIRS in order.
(1) Congress should enact the long talked about but never implemented LINE ITEM VETO.
(2) We as a nation must enact a constitutional BALANCED BUDGET AMENDMENT.
(3) Immediately rescind the tax cuts enacted by the Bush administration for anyone earning more than $75,000 per year.
The above steps should lead us towards a BALANCED budget.
To fix and guarantee Social Security benefits for generations to come the following steps should be taken:
a. Remove the $90k ceiling now in effect
b. Remove the payment of benefits to anyone who did not contribute to Social Security (I.e. who has not paid into the system).
c. Increase the Social Security tax from its present 6.2% (12.4% for employer + employees) to 7.5% (15% for employer + employees).
d. Place ALL Social Security surpluses into a LOCKBOX (real trust fund) and invest in Market Securities to earn REAL interest.
e. Enact appropriate legislation which will repay ALL the surpluses due to Social Security over a period of 20 to 25 years (I.e. pay the money now owed back and place it into a lockbox).
f. Make it against the LAW to use Social Security contributions for General Fund expenditures.
The above measures will be a hard pill to swallow but I believe that anybody who claims to be a FISCAL CONSERVATIVE will support such measures.
Cal E: 1. Take the amount you pay in taxes
2. Multiply that amount by 2
3. Make sure you own that value in 20-year T-bonds
Now my money comes back to me. Problem solved.
Gene Simmons, Director, National Debt Awareness Center
Go to National Debt Awareness Center web site.