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2010-01-12 Economy

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Posted by Steve White 2010-01-12 00:00|| || Front Page|| [6 views ] Top

#1 The problem with the list of items "bankrupting" the United States is the only one of them, defense spending, is constitutionally permitted.

Some financial blogs I have read suggest that the US can't afford all this spending and, amazingly enough, they thus advocate disarmament of the US as a solution to US financial problems.

Disarmament is not an option in a free republic.

Social Security is an option.
PBS is an option.
National Endowment for the Arts and Humanities is an option.
The US Department of Education is an option.

And on it goes.

So bankruptcy may be good for the nation, but let us first try eliminating ( not cutting ) whole programs, before we declare bankruptcy, and thus open the gates to the barbarians.

National defense is never a choice, so nor should be survival of the US.

Posted by badanov 2010-01-12 01:23|| http://www.freefirezone.org 2010-01-12 01:23|| Front Page Top

#2 Disarmament is not an option in a free republic.

Given the behavior of our courts & elected "leaders" I'd say that the US is no longer a free repulic so if that's the only bar to disarmament ....

Posted by AzCat 2010-01-12 01:33|| 2010-01-12 01:33|| Front Page Top

#3 How does defense budget compares, size-wise, to social (vote buying) budget?

Posted by g(r)omgoru 2010-01-12 02:19|| 2010-01-12 02:19|| Front Page Top

#4 non-defense discretionary spending is about half the non-entitlement budget.

problem is that entitlements make up about 2/3 of the total budget.

Posted by abu do you love 2010-01-12 03:57|| 2010-01-12 03:57|| Front Page Top

#5 Where do you put the interest on the debt?

Posted by Bobby 2010-01-12 06:01|| 2010-01-12 06:01|| Front Page Top

#6 If you check your 1040s that just arrived in the back is the break out of Federal Income and Outlays for 2008.

Social Security, Medicare and other retirement 37% - 1
National Defense, veterans, and foreign affairs 24% - 2
Social Programs 20% - 3
Physical, human and community development 8% - 4
Net interest on the debt 8%
Law enforcement and general government 2%

1-These programs provide income support for the retired and disabled and medical care for the elderly.*
2-About 20% of outlays were to equip, modernize, and pay our armed forces and to fund the Global War on Terrorism and other national defense acitivities; about 3% were for veterans benefits and services; and about 1% were for international activities including military and economic assistance to foreign countries and maintenance of US embassies abroad.
3-About 14% of total outlays were for Medicaid, food stamps, temporary assistance for needy families, supplemental security income, and related programs; and the remaining outlays were for health research and public health programs, unemployment compensation, assistance housing and social services.
4-These outlays were for agriculture; natural resources; environment; transportation; for elementary and secondary education and direct assistance to college students; job training; deposit insurance, commerce and housing credit, and community development; and space, energy and general science programs.

* military retirement is carried in the national defense budget.

Posted by Procopius2k 2010-01-12 08:50|| 2010-01-12 08:50|| Front Page Top

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