GOP 2012 budget to make $4 trillion-plus in cuts

[Denny Crane]

http://hosted.ap.org/dynamic/storie...ME&TEMPLATE=DEFAULT&CTIME=2011-04-03-10-33-40

WASHINGTON (AP) -- A Republican plan for the 2012 budget would cut more than $4 trillion over the next decade, more than even the president's debt commission proposed, with spending caps as well as changes in the Medicare and Medicaid health programs, its principal author said Sunday.

The spending blueprint from Rep. Paul Ryan, the chairman of the House Budget Committee, is to be released Tuesday. It deals with the budget year that begins Oct. 1, not the current one that is the subject of negotiations aimed at preventing a partial government shutdown on Friday.

 

[Denny Crane]

$4T here, $4T there, and soon it adds up to real money.

(Score one for the tea party)

 

[3RA1N1AC]

yeah hopefully they take all the healthcare away from poor children, bout time

 

[BLAZER PROPHET]

I wonder where this is all going to lead us to?

We tax heavily and spend substantially more than we tax. We're essentially at literal insolvency and thus far all we're doing is printing money we can't back. At some point in time, margin calls. And then what? Hyper inflation? Federal government defaulting on bonds? What will happen to federally funded state programs like unemployment? At some point in time we will have to face these issues- and a lot more. Will it cause mass unemployment when government payroll can't be met?

If we are to try and avoid all this, deep cuts in Social Security and Medicare/Medicaid will have to happen- among a lot of other cuts. Hopefully, those making the decisions will be smart about it.

 

[3RA1N1AC]

hmm maybe they could make GE pay some taxes on their billions of profit

 

[barfo]

hmm maybe they could make GE pay some taxes on their billions of profit

What are you, some kind of communist?

barfo

 

[BLAZER PROPHET]

hmm maybe they could make GE pay some taxes on their billions of profit

Yeah, that'd be a good start.

 

[EL PRESIDENTE]

hmm maybe they could make GE pay some taxes on their billions of profit

or make the poor pay their fare share. what. bottom 50% pay like 3% of taxes?

 

[Denny Crane]

I'm no fan of corporate welfare, or govt. intervening at all on behalf of businesses (other than to prevent pirates from hijacking our ships and that sort of thing).

The reality is that if we taxed GE 100% of their profit, we'd still have well over $1.4T in deficit. It's no panacea.

 

[BengalDuck]

how about we legalize drugs and stop the transition to a totalitarian police state where private prisons lobby congress for additional and lengthier penalties for crimes?

 

[barfo]

or make the poor pay their fare share. what. bottom 50% pay like 3% of taxes?

Absolutely. Why, I tipped the guy buffing my Aston Martin a dollar today, and he probably gets to keep every penny of that. It's unfair, is what it is.

Next time, I'm just going to give him 50 cents, and tell him the government took the rest of his tip in taxes.

barfo

 

[EL PRESIDENTE]

You named your penis "Aston Martin"?

 

[BLAZER PROPHET]

You named your penis "Aston Martin"?

HAHAHAHAHAHAHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHAHAHAHAHA!!!!!!!

rep'd!

 

[BLAZER PROPHET]

I'm no fan of corporate welfare, or govt. intervening at all on behalf of businesses (other than to prevent pirates from hijacking our ships and that sort of thing).

The reality is that if we taxed GE 100% of their profit, we'd still have well over $1.4T in deficit. It's no panacea.

True, but ending corporate welfare is part of the answer.

 

[jlprk]

Republicans want to take the spending back to the pre-Obama level, but not to the pre-Bush level, when the Democrats had a giant surplus, and growing every year. The pre-Obama level is no good because there was a giant deficit in the Bush years.

The increases in the Bush years were military and intelligence (he doubled intelligence spending, despite no Communism). The increases in the Obama years have been to bail out the Bush economy, paying off the bankers and Wall Street.

So the Republican plan is to just stop the bailout (which has already happened), but not to reverse the massive Bush increases, which caused the deficit.

 

[barfo]

You named your penis "Aston Martin"?

Sure. It's powerful, good looking, supermodels pose with it, and you can't afford it.

barfo

 

[MARIS61]

I'm no fan of corporate welfare, or govt. intervening at all on behalf of businesses (other than to prevent pirates from hijacking our ships and that sort of thing).

The reality is that if we taxed GE 100% of their profit, we'd still have well over $1.4T in deficit. It's no panacea.

If we taxed all business fairly we'd have no deficit.

 

[Denny Crane]

If we taxed all business fairly we'd have no deficit.

If you took 100% of GE's stock as taxes, we'd still have over a $1T deficit. Its market cap is a whopping $216B. The entire fortune 100 would be gone in a little over a decade to support govt. spending habits at its current rate of spending.

I don't see it as the panacea you do when I look at the numbers.

 

[MrJayremmie]

Yeah, well i'll wait until the pubs do something like this under a republican administration. Pubs are well known to act like conservatives when they aren't in power then expand government and spend spend spend when they are.

So it is just talk for me right now. Would love to get some real budget cuts and tax increases.

 

[blazerboy30]

Yeah, well i'll wait until the pubs do something like this under a republican administration. Pubs are well known to act like conservatives when they aren't in power then expand government and spend spend spend when they are.

So it is just talk for me right now. Would love to get some real budget cuts and tax increases.

I would love to know what tax bracket you are in. 50% of the population doesn't pay federal income tax... not surprising so many are in favor of increasing taxes because they have no idea what it is like to actually pay taxes.

 

[barfo]

I would love to know what tax bracket you are in. 50% of the population doesn't pay federal income tax... not surprising so many are in favor of increasing taxes because they have no idea what it is like to actually pay taxes.

Yes, it's totally impossible for people to understand what it's like to pay taxes. It's such a difficult concept to grasp. Especially since there aren't any close analogs that they do pay, like payroll taxes for instance.

barfo

 

[blazerboy30]

Yes, it's totally impossible for people to understand what it's like to pay taxes. It's such a difficult concept to grasp. Especially since there aren't any close analogs that they do pay, like payroll taxes for instance.

barfo

I agree.

 

[Denny Crane]

Most people just see their take-home pay, so they don't see the withholding. If they had to write a check for it on April 15, they'd be really pissed about the amount.

 

[barfo]

Most people just see their take-home pay, so they don't see the withholding. If they had to write a check for it on April 15, they'd be really pissed about the amount.

So, you are saying that even taxpayers can't grasp the concept of paying taxes?

barfo

 

[maxiep]

You know what terrifies me? That if everything breaks right, the 10-year projection in savings could actually be as much as $6T compared to the Obama White House budget...and our debt over that time will still increase. THAT's how bad our fiscal situation is. We need to do something radical to redefine the relationship between government and the individual and we need to do it now.

 

[Denny Crane]

So, you are saying that even taxpayers can't grasp the concept of paying taxes?

barfo

They don't grok the amount or the side effects - like their employer paying half of FICA which could be paid as wages instead.

 

[barfo]

They don't grok the amount or the side effects - like their employer paying half of FICA which could be paid as wages instead.

It could be paid as wages instead? Sure, on the planet where you defund half of social security.

Pretty sure that some people would grok the changes that would bring.

barfo

 

[Denny Crane]

It could be paid as wages instead? Sure, on the planet where you defund half of social security.

Pretty sure that some people would grok the changes that would bring.

barfo

They'd grok the return on their 401K or annuities with much happier results.

 

[barfo]

They'd grok the return on their 401K or annuities with much happier results.

Yeah, because Americans are really great savers and investors.

barfo

 

[Denny Crane]

Yeah, because Americans are really great savers and investors.

barfo

The government isn't a saver and investor when it's borrowing $1.4T yearly.