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Queen 
LSU Fan
383 miles from Death Valley
Member since Nov 2009
2403 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:42 pm to CowboyPride)
So has anyone asked why this is part 1?
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CowboyPride 
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:42 pm to CowboyPride)
So far there have been a few people with some good stuff saying what they can contribute or do.
A couple points though:
1. No matter what we think. This is our country's debt and we as citizens will pay for it one way or another. Personally I'd rather not pass it to my kids or their kids.
2. There is a lot of "Spend less than you make government." Well no kidding. Thats easy the tough question is "Where to cut?"
3. You do recieve government aid. In someway shape or form. It may not be obvious but you do. Through social services, military serves, tax breaks etc.
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Lsut81
LSU Fan
Member since Jun 2005
54810 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:45 pm to CowboyPride)
quote:
"Where to cut?"
CBO said if you cut 1% annually from social spending and 1% from Military Spending, it equates to 1.6T over 10yrs in savings.
There are other suggested spending cuts that they made that would equate to over 4T over 10yrs. 
Why not start with the top two?
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Alahunter 
Alabama Fan
Member since Jan 2008
70734 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:45 pm to CowboyPride)
Tax breaks aren't govt aid. Its just them taking less.
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NC_Tigah
LSU Fan
Member since Sep 2003
40088 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:45 pm to CowboyPride)
quote:
What if anything will you give or sacrafice to help pay it off.
Social Security - the Government can have mine. Every penny.
Medicare - the Government can have mine. Every penny.
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HempHead
Alabama Fan
Appalachia
Member since Mar 2011
10139 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:46 pm to CowboyPride)
quote:
Thats easy the tough question is "Where to cut?"
Realistically, nothing that is a large contributor towards rising debt will be cut in any meaningful way. Long-term, unfunded liabilities for mandatory spending eclipse the fifteen figure mark.
quote:
tax breaks
How are tax breaks government aid?
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:49 pm to tigeraddict)
quote:
increase SS retirement age incrementally based on current age, ect
Some people think this could be effective. Def would be a sacrifice to the poeple who pay in.
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HempHead
Alabama Fan
Appalachia
Member since Mar 2011
10139 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:51 pm to CowboyPride)
Increasing the SS retirement age does nothing to eliminate debt, it only reduces future liabilities.
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wickowick
LSU Fan
Head of Island
Member since Dec 2006
12762 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:53 pm to CowboyPride)
We need to remove the automatic baseline budget increases. This is the automatic increase from last years budget to get this years budget. It is currently compounding at ~6-7% per YEAR
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RCDfan1950
LSU Fan
United States
Member since Feb 2007
6596 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:53 pm to CowboyPride)
quote:
Creating a Debt Free America Pt. 1 - What Will You Sacrafice?Seems like everybody wants it and wants everybody else to pay for it. I'd like to hear what you have or receive as an individual that you would be willing to give (increasing revenue) or give up (decreasing expenses) in order to reduce our debt? I'll go first. 1. I get a home mortgage interest deduction I could live without. 2. I could prob. afford to pay my healthcare post tax. 3. I could volunteer my time and services at an organization that relies primarily on government funding to reduce need. 4. Assist more in supporting my elderly relatives in order make a public safety net sustainable. I'm sure there are alot more. How could you make an impact?
By demanding open and honest descriptions of and QUALIFIERS on the subsidies that people vote themselves. Top to BOTTOM! Wall St. money manipulators who game the system to crack ho's like Obama Phone Lady.
Without that...you can kiss this whole thing good bye.
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dante
LSU Fan
Kingwood, TX
Member since Mar 2006
2140 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:54 pm to CowboyPride)
Part of the problem with SS is that when it was established life expectancy was around 65 years of age.......today it 77 or 78.
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:57 pm to HempHead)
quote:
How are tax breaks government aid?
Good point. Thats probably not the best terminology. I really just meant it as a revenue that the government waives to individuals for certain reasons. i.e. exemptions/deductions etc.
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CarrolltonTiger
LSU Fan
New Orleans
Member since Aug 2005
44012 posts
 Online
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 12:57 pm to CowboyPride)
quote:
1. I get a home mortgage interest deduction I could live without.
Why not a comprehensive few of all reductions and elimination of those that do not benefit society to create X revenue increases
quote:
2. I could prob. afford to pay my health care post tax.
.
Require some co-pay and deductibles for all, the poor as well as those with full coverage.
quote:
3. I could volunteer my time and services at an organization that relies primarily on government funding to reduce need.
meh, government should reduce support to non-profits connected to politicians and tighten up on the definition of a non-profit, people can do as they choose with a volunteer effort
quote:
4. Assist more in supporting my elderly relatives in order make a public safety net sustainable.
Sort of nice to do that for your parents rather than institutionalize them even if there is some indirect savings.
I'd add.
End colas on all pensions and no government raises till we begin to reduce the deficit and no Colas and raises in any year if they increase the deficit.
Change the nature of the bureaucracy to reward savings rather than spending. Give bonuses to high level officials that reduce their budgets rather than increasing their bureaus to get promotions.
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:00 pm to HempHead)
quote:
Increasing the SS retirement age does nothing to eliminate debt, it only reduces future liabilities.
Very good point.
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:06 pm to wickowick)
quote:
We need to remove the automatic baseline budget increases. This is the automatic increase from last years budget to get this years budget. It is currently compounding at ~6-7% per YEAR
Was looking more for things you could do personally. But this seems interesting never heard of it before, so def gonna check out. Thanks.
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wickowick
LSU Fan
Head of Island
Member since Dec 2006
12762 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:09 pm to CowboyPride)
quote:
Was looking more for things you could do personally. But this seems interesting never heard of it before, so def gonna check out. Thanks.
Dude, we are running more than 1 trillion dollar deficit a year...
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:10 pm to Lsut81)
quote:
NOTHING until spending is cut
IMO this is a really dangerous way to think and really worst case scenario for everyone. Doing nothing is easy. But does it produce the optimal outcome? I dont think so in this case.
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junkfunky
LSU Fan
I can't find my village
Member since Jan 2011
9795 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:11 pm to CowboyPride)
quote:
Maybe in your personal budget.
Right.
quote:
I think someone already stated the national debt per houshold. It's alot, and as a country we owe alot more than make.
I already answered this.
quote:
I have a positive contibution:use ratio
Are you willing to pay off my debt (if I had some, excluding my house)? Then why the frick should I pay off the politicians debt? If I was adequately represented we wouldn't have any debt.
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CowboyPride
Oklahoma State Fan
Louisiana
Member since Oct 2012
127 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:21 pm to wickowick)
quote:
Dude, we are running more than 1 trillion dollar deficit a year...
Exactly. It's a big deal and its urgent. All the more reason to discuss.
I think that there are some people who don't understand how this things affect them personally.
For example the item I metioned in the OP. The government allowing me to pay pre tax for my healthcare is the single biggest (I believe) tax break the government gives some of us. If we were to all give it up. The savings are enormous.
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Queen
LSU Fan
383 miles from Death Valley
Member since Nov 2009
2403 posts
| re: Creating a Debt Free America Pt. 1 - What Will You Sacrafice? (Posted on 1/22/13 at 1:21 pm to CowboyPride)
Recently Tennessee tightens restrictions on unemployment. If you're on the rolls you have to prove you've looked for at least three jobs/week. They also have a tiered system so that for the first three months or so on the rolls you can turn down a job that doesn't pay at least 90-95% of your previous salary. The longer you are on the government check, the lower that number goes, until eventually you lose benefits if you have been on too long and turn down a job paying at least 65% of your previous.
First audit they did kicked 7,000 people off.
Seems like a little personal responsibility into a few programs like that would go a long way.
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