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re: Bill Cassidy wants to pass the Promise Act to save Social Security!

Posted on 8/8/26 at 10:18 am to
Posted by TigerintheNO
New Orleans
Member since Jan 2004
45392 posts
Posted on 8/8/26 at 10:18 am to
quote:

If my math is accurate, all that is needed is a 20% federal spending cut across the board to fund ssi at @ 100%. Annual social security payout is approximately $1.5 trillion. If federal spending is $7 trillion, 20% = $1.4 trillion. I call it the bestbanker plan.



two problems with that plan-

1) You just cut 20% of the funding for Social Security, Medicare, & Medicaid. Which combined makes up 50% of federal spending.

2) Federal Spending would still be at $7 trillion but revenue just over $5 trillion. The national debt would surpass $50 trillion by 2031.
Posted by BestBanker
Member since Nov 2011
19706 posts
Posted on 8/8/26 at 12:43 pm to
quote:

two problems with that plan-

Thanks. Was waiting for "the problem" reaction. There's never a problem in cutting federal spending.
quote:

2) Federal Spending would still be at $7 trillion but revenue just over $5 trillion. The national debt would surpass $50 trillion by 2031.

This is in error because the spending is cut by 20%, in my plan, resulting in $5.6 trillion in spending. Very simple to solve. Audit, overview, accounting will solve most of the theft.

Now since you've injected another problem to be solved, another plan i will create is to have congress enact a debt elimination bill forcing a refinance of current debt issues in a systematic manner without adding any new debt. I call this the bestbanker debt elimination plan.
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