It’s no secret that our nation is deep in debt. Enormous annual budget deficits are projected to continue for…well, pretty much forever, unless something rather drastic is done, and soon.
Well, everyone can relax. I just solved all our problems.
Thanks to this handy tool from the New York Times, I was able to turn a projected $418 billion shortfall in 2015 into a $58 billion surplus. I was also able to turn a projected $1.345 trillion dollar deficit in 2030 into a $161 billion surplus.
Here’s how I did it:
- Cut foreign aid in half - Sorry, Israel. We’re broke!
- Eliminate earmarks - John McCain would have been proud. Oh, wait…he’s still alive. Never mind!
- Eliminate farm subsidies - Although we may need to develop National Pitchfork Defense to prevent an uprising in Nebraska…
- Cut pay of civilian federal workers by 5 percent - Take that, public sector unions!
- Reduce the federal workforce by 10 percent - This can be done mostly through attrition.
- Cut 250,000 government contractors – There are simply too many of them at present.
- Assorted other cuts to the federal government – NPR and the NEA are gone!
- Cut aid to states by 5 percent - Force states to cut the fat from their budgets.
- Reduce noncombat military compensation and overhead – Healthcare premiums would have to rise for the first time in a decade.
- Reduce the number of troops in Iraq and Afghanistan to 60,000 by 2015 – Surely this is doable, right? I mean, if it’s not, then we are really and truly screwed…
- Enact medical malpractice reform – “The first thing we do, let’s kill all the lawyers.” I read that somewhere.
- Cap Medicare growth starting in 2013 - Cap Medicare growth at GDP plus 1 percent.
- Raise the Social Security retirement age to 68 - Just one year higher than already planned.
- Reduce Social Security benefits for those with high incomes – Means test it.
- Tighten eligibility for disability – Too many crooks on this as it is. I’ve met some of them.
- Use an alternate measure for inflation - Daniel Patrick Moynihan was right!
- The Lincoln-Kyl proposal for estate taxes - The first $5 million is exempted.
- Return capital gains and dividend tax rates to Clinton-era levels – Sounds reasonable.
- Subject some incomes above $106,000 to the payroll tax - Brings in a lot of revenue.
- Eliminate some tax loopholes - The tax code is simplified and more revenue is brought in.
This plan is comprised of 74% spending cuts and just 26% tax hikes. That sounds like a reasonable ratio to me!
Please feel free to offer your own plans in the comments.
(PS – Oh, and REPEAL OBAMACARE!)