Who is Doing What?

On Thursday, Congress passed a FY2011 dubget that will cut 315 billion from the Federal budget over the next ten years; earmark free, and with no tax hikes (insert happy dance here). This is good, but it soes not resolve to disolve our soluable debt. our national debt has reached 14.2 trillion and our federal debt is at 14.3 trillion. How can we erase some zeroes?
Chairman Paul Ryan, of Wisconsin is proposing a 2012 Fiscal Year budget cut known as "The Path To Propserity". Sounds like a new cult sermon, but it is a fiscal conservative approach to slimming down the government; not to make it fatter. This budget plan, as devised by Congress, will cut out 6.2 trillion in spending over the next decade, elliminate hundreds of "duplicative programs", bring non security discretionary spending down to below 2008 levels, (508 billion), and lowers government spending from 23% of the economy to 20% of gross domestic product. It proposes to reduce the deficit by 4.4 trillion and to put the "budget on the path to balnce and pays off its debt.
The Path to Prosperity will eliminate 800 billion in tax increases imposed by the new healthcare law and prevent a 1.5 trillion tax increase called for in the presidential budget, call for a simpler tax code for houses and buisnesses and set top rates at 25% to foster productive growth.
It promises to create 1 million new private sector jobs within a year to increase to 2.5 million in the tail end of a decade. To keep up with rising inflation it will yield 1.1 trillion in higher wages cross continentally.
One of the key issues this plan is trying to resolve is with non discretionary spending. Because of the number of recipiants recieving Social Security, from 3.5 millin in 1959 to over 50 million currently, and with earlier retirements because the average lifespan has extended, it will attempt to resolve the issue of 50. of every dollar being spent by the government on healthcare. The way it will attempt to resolve this is to erradicate "unnecessary tests, redundent treatments, and mistaken billings".
In regard to defense spending it proposes to provide 692.5 billion for national defence spending in 2012, to reduce enifficient spending by 178 billion and reinvest 100 billion of that into "key combat capabilities".
So there we have it folks. This blog for Tuesday covers two important topics proposed by one bill which, from the 30 pages of the 70 I have read and of the 40 I have yet to read, seems like a ligitimate solution. There will be more to come next Saturday. Maybe I might find another bill to peak your interests. Good night and God bless.



www.usdebtclock/debt_clock/