Look Ma I solved the Federal Deficit!!!! And so can you!!!

[bklyncowgirl]

Check it out. The New York Times has an interactive federal deficit calculator. It's fun, it's easy and you too can figure out in a few minutes how to cut the federal budget and increase revenue to bring the federal budget into balance. My mix turned out to be 34% from tax increases and 64% from spending cuts.

I eliminated earmarks (chump change but symbolic), ended the wars in Iraq and Afghanistan, cut the growth of the nuclear arsenal, reduced the military to its pre Iraq war size, cut back on the size of the Navy and Air force fleets and cancelled a few expensive weapons projects. I capped medicare spending--because we SHOULD get the best possible value from doctors and hospitals, but did not raise the retirement age. I did tighten rules for disability--because all states should be paying by the same rules and allowed the use a different means of measuring inflation than the CPI.

Now for taxes. I brought the estate tax and the investment tax back to Clinton era levels. I allowed the tax cuts for the rich to expire and raised the payroll tax cap on income of $160,000. I put in a new tax on income over $1 million but could have done just as well with the carbon tax or a tax on banks based on their size and the riskiness of their investments (OK I'm frankly dubious that this would work).

I could have just as easily not done any cuts in medicare and added a few new taxes but I do believe that as a nation we can get better value than we are currently getting. I was a bit disappointed that they did not offer a single health care system for all as part of the choices.

What's most important is that I preserved the ability of aging boomers like myself to retire while still healthy and able to enjoy life and at the same time allow the next generation a chance to move up.

Here's the link.

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?hp

[Bolo Boffin]

1. That's pretty much what I had!

You were peeking!

[BlueJazz]

2. bklyncowgirl for President.! Good Job!

[bklyncowgirl]

3. If nominated I will not run. If elected I will not serve....

I think what this shows is that we are being given a bunch of false choices. I wanted to send it to the White House but their contact page won't load. Maybe they still have me in their system from the Bush years as one of those people they don't want to hear from.

Anyone got the White House e-mail address?

[Bill McBlueState]

4. this is really good

It would be wonderful if teabaggers would at least glance over it to see which programs are the ones that really drain the budget. It's not TANF.

[bklyncowgirl]

5. Amazing isn't it? Knock off most of the Bush administration tax cuts & wars & you're almost there

Sure there's a few other things needed but buy and large go back to the Clinton era and the rest is easy!

[liberal N proud]

6. Only one problem - Special Interest will be the ones making the decisions

Nothing rational will be done because the special interest control Washington and even more so, now the republicans will control the house.

[proud patriot]

7. Cool my plan 58% from tax increases 42%from spending cuts

I like it :-)

[progressoid]

8. If only it were that simple.

[lefthandedlefty]

9. I have a solution,but it won`t be very popular

First cut the military budget by 50 percent right now and 5 percent a year for the next 5 years,cut police force by 50 percent,cut out retirement for all elected officials and everyone that is paid by tax payers,and stop developing new weapons really how many ways do we need to kill each other.Now for more income tax all churches at the same rate as every other business,legalize and tax all drugs and prosicute use the same way as alcohol.Now a way to help our personal lives no mortgages over 15 years no second mortgages no home equity loans,new car loans no more than 3 years,used cars no more than 18 months.I would like to see credit cards gone,but even I know thats not going to happen,but they could be set up so that each months balance be paid before any further charges.Also I am for socialized medicine and totally loath insurance companies.

[FLyellowdog]

10. That wasn't so difficult. I should go to Congress.

[geckosfeet]

11. great link - thanks for posting - even the dimmest witted teabagger should be able to play this out

Here is my soulution:

Budget Puzzle: You Fix the Budget - You solved the deficit! 63% from tax increases and 37% from budget cuts.

[Lyric]

12. My plan: 47% tax increases, 53% spending cuts. Details:

Reduce nuclear arsenal and space spending
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
Reduce Navy and Air Force fleets
Cancel or delay some weapons programs
Reduce the number of troops in Iraq and Afghanistan to 60,000 by 2015
Cap Medicare growth starting in 2013
Return the estate tax to Clinton-era levels
Return investment tax rates to Clinton-era levels
Allow expiration of Bush tax cuts for income above $250,000 a year
Subject some incomes above $106,000 to Social Security (Payroll) tax
Create a 5.4% surtax on income above $1,000,000 (sounds like this is basically creating a new, higher tax bracket--which I approve of)
Enact a bank tax