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re: US government is running out of money faster than expected, Mnuchin warns

Posted on 7/12/19 at 2:40 pm to
Posted by Magician2
Member since Oct 2015
14553 posts
Posted on 7/12/19 at 2:40 pm to
quote:

I pay plentyyyy in income taxes already


What should be cut from the budget? What’s your ideal solution?
Posted by pizzatiger
Member since Apr 2019
274 posts
Posted on 7/13/19 at 1:07 pm to
quote:

What should be cut from the budget? What’s your ideal solution?



Here's the thing. The vast majority of tax receipts (~90%) are eaten up by SS, medicare/medicaid, defense, and interest on debt. As the boomers age, it will easily eat up all tax receipts at current tax levels.

Think about that. You could eliminate every other government program and we still can't balance the budget if you don't touch those things. No SNAP, no HUD, no education spending, etc.

We cannot fix things without changing SS, medicare/aid, and defense. It is mathematically impossible.
This post was edited on 7/13/19 at 1:10 pm
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