The Problem: The United States has an unsustainable budget deficit. (A budget deficit means that we are spending more money than we have.)

The Solution (fairly obvious, as I see it): A slight raise of taxes on the rich and super rich and big cuts to military funding.

What Is Actually Happening: No tax increases. No significant cuts to defense. Only cuts to domestic spending. (This includes a proposal by the House of Representatives to cut $747 million in food aid for poor pregnant women and women with children up to the age of 5.)

Facts and Questions to Consider: Approximately 10% of the people in the U.S. posses 80% of the nation’s wealth. Why not tax the rich and super rich, even just a bit?

Currently military spending constitutes $700 billion. That sounds quite excessive, even if we had the money for it. Instead of raising taxes or cutting military spending, the President and Congress are focusing exclusively on budget cuts that will target the needy, the environment, and other domestic spending.

Sources and Links:
U.S. Military Budget
Republican Budget Cuts – Proposal
Growing Gap between Rich and Poor – NY Times
Wealth Inequality in the U.S. – wikipedia
Federal Spending Pie Chart

4 thoughts on “Budget

  1. Honestly, I think just taxing the rich more and decreasing defense spending is short sighted. Sorry. It is unsustainable to just keep taxing to attempt to keep up with spending. Seems like the wife complaining that there just isn’t enough money in the bank and tells her husband to get a second job rather than scale back her shopping.

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    1. If spending is the problem, then why not cut military spending? Why is military spending off limits, politically? I don’t get it. We are the safest nation in the world, the most secure.

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  2. Hi Jon. Your thinking on this matter is amazingly identical to mine. I’ve found, though, that people have strong feelings about economics, as you see above. Your/my argument just doesn’t seem to make much of an impression, either on a rational level or in terms of emotions.

    I feel like there’s something more fundamental that we all need to discuss with one another, and I’m not sure what it is. Interconnectedness? Cynicism? Something along those lines.

    Just my two cents.

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  3. Jonathan,

    Yeah. I think that you are right. I think there is a fundamental mindset that is reflected in both parties. There is something deeper in our collective national psyche. I wonder if it doesn’t have to do with a form of hyper-individualism, something that has us thinking so individualistic that we cannot think in terms of a “we” or in terms of our nation as a community.

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