Editor's Note

What’s the Best Way to Reduce the Budget Deficit?

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November 16, 2010 RSS Feed Print
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So what would you cut? When it comes to the federal budget, you’re going to hear that question many times in the months and years ahead. It’s no trivial inquiry. The size of the budget deficit and what we do about it is at the top of the urgent pile for voters and, perhaps, lawmakers. Everyone from the chairman of the Federal Reserve to the finance ministers of obscure countries considers the deficit very unhealthy; the Democrats’ election rout came in large part from voter unease. But what’s going to be done about it? You either cut spending, raise revenue—or both. Across the board or with a scalpel? Which programs, which taxes? What would you cut—or raise? Post your thoughts below and we’ll start a discussion that I’m sure we’ll want to come back to. [Read more about the deficit and national debt.]

Tags:
Democratic Party,
2010 Congressional elections,
deficit and national debt

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1. Subsidize employers to hire employees. It would be cheaper than welfare and never ending unemployment benefits. Slowly wean off subsidies as the economy improves.

2. Tax the hell out of employers who move jobs and operations offshore. Major tax breaks for those who bring jobs home.

3. Increase taxes for those earning over 350k. Make tax cuts permanent for those earning under 100k.

4. Dump 90% of environmental red tape and fees, and other onerous, time consuming government regulations. The result is businesses that are able to compete in a world market. Tax credits for companies that invest in smart, low polluting technologies.

5. Major fines for those businesses that employ illegals. Tax credits for those who employ only legal residents and citizens in agricultural jobs. Lose those Orwellian fears - Issue a national ID card.

6. Create jobs and energy with nuclear power. Expand oil drilling everywhere - jobs and cheaper energy is the result. Cheaper energy makes a small increase in the gas tax palatable. Increase the number of hydroelectric dams - stop fretting over fish and "scenic rivers" - learn to like lakes.

7. Secure the southern border. Starve the violent drug cartels and increase jobs for Americans. Mexico becomes safer and more stable in the bargain.

8. Deport all illegals who have been in the country for less than 5 years. We've done it before - let's do it again.

9. Roll back the union legacy costs. $80,000 a year for a retired, 50 year old teacher is absurd.

10. Means test for social security benefits. Some old lady is eatin' Lil' Friskees in a VW van, while a millionaire cashes his SSI check on the way to the golf course. We're broke - shut-up, man-up and suck it up.

11. Remove air-pollution standards from the auto industry. Give huge tax incentives for higher mileage vehicles. The net result of higher mileage is cleaner air, cheaper energy and more economical vehicles.

12. Bring the soldiers home and reduce the size of the realm. It's sunset for the empire.

13. Targeted import/trade tariffs.

14. Start cutting funds for educational frills. School vouchers are one way for a better education.

15. Government departments need to start making do with old equipment. Repair and renew vehicles, furniture, electronics, buildings, aircraft and facilities. Good for the planet - good for jobs.

16. Renew our Merchant Marine/ Maritime Industry. Safety standards are higher, we could ship our own "stuff", not be dependent on foreign shipping powers and create millions of jobs in the process.

We might be able change the course of the SS Titanic if we get serious - fast. But, I doubt that we any longer have the will to do what's necessary to save the ship. So, we'd better start nailing the tables, doors and deck chairs together in the short time we have before we go under. Unless we do something quick it's gonna be "everyman for himself".

R.L. Schaefer of CA 2:15PM November 16, 2010

Editor's Note

Brian Kelly was named editor of U.S.News & World Report in April 2007, nine years after joining the magazine. With more than 30 years of journalism experience, including covering Capitol Hill, politics, and the presidency both as a beat reporter and as an editor, Kelly is one of the nation’s most experienced magazine editors in steering national and international news content.

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