The Get Real Federal Budget Proposal 2012 | |
Government Revenue | $2,627,500,000,000.00 |
Government Pensions | -$805,000,000,000.00 |
Health Care | -$866,000,000,000.00 |
Defense | -$925,000,000,000.00 |
Welfare | -$431,500,000,000.00 |
Total for these 4 | -$3,027,500,000,000.00 |
Deficit for just These 4 | -$400,000,000,000.00 |
Solutions | |
Eliminate Wars in Iraq and Afghanistan | $117,806,859,420.00 |
Cut 200 Billion from Defense | $200,000,000,000.00 |
Cut Federal Workforce by 12 percent | $54,000,000,000.00 |
Cut Foreign Aid by Half | $31,500,000,000.00 |
Eliminate Earmarks | $19,000,000,000.00 |
Cut 250,000 Government Contractors | $17,000,000,000.00 |
Reinstate the 7.65 percent Employee FICA tax rate, this was cut by 2 percent by President Obama in 2010 | $17,000,000,000.00 |
Raise Retirement Age to 70 | $13,000,000,000.00 |
Payroll Tax: Raise $106,800 ceiling until 90 percent of income is subject to the tax | $12,000,000,000.00 |
Replace Joint Strike Fighter Program with updated F-16s and F/A-18s | $10,000,000,000.00 |
Add a Public Plan to the Health Insurance Exchanges in 2014 | $9,000,000,000.00 |
Raise Age to 70 for Medicare | $8,000,000,000.00 |
Cost Sharing for Medicare and Medigap Insurance | $6,900,000,000.00 |
Require Manufacturers to Pay a Minimum Rebate on Drugs Covered Under Medicare Part D for Low Income Beneficiaries | $4,000,000,000.00 |
Eliminate CAH, MDH, and SCH programs in Medicare | $3,800,000,000.00 |
Increase Basic Premium for Medicare Part B to 35 percent of the Program's Cost | $3,000,000,000.00 |
Limit Military Retirees to Tricare Standard or Extra only, not eligible for Tricare Prime | $3,000,000,000.00 |
Raise Earliest Retirement age to 64 for Social Security | $1,700,000,000.00 |
Increase Cost Sharing for Pharmaceuticals under Tricare | $600,000,000.00 |
131.306 Billion Surplus after Above Solutions | $131,306,859,420.00 |
Transportation Costs | -$104,900,000,000.00 |
Applying surplus from above yields | $26,406,859,420.00 |
Transportation Cuts and Fee Increases | |
Raise Gas Tax to 68.4 cents per gallon, use excess to reduce federal debt | $71,000,000,000.00 |
Limit Highway Funding to Expected Highway Revenues | $11,000,000,000.00 |
Increase Fees to $15 per one way trip for Aviation Security | $9,000,000,000.00 |
117.41 Billion Running Surplus | $117,406,859,420.00 |
Education Costs | -$121,100,000,000.00 |
Applying surplus from above yields | -$3,693,140,580.00 |
Solution | |
Tax Corporations on 10 percent of their actual revenue at 30 percent tax rate. Eliminating complicated deduction schemes. | $136,425,000,000.00 |
132.7 Billion Running Surplus | $132,731,859,420.00 |
Interest on Public Debt | -$241,600,000,000.00 |
Applying surplus from above yields | -$108,868,140,580.00 |
Solution | |
Roll Back Personal Income Tax Rates to 2000 Level | $277,139,422,896.00 |
168.3 Billion Surplus | $168,271,282,316.00 |
Rest of the Budget | |
Other Spending | -$141,500,000,000.00 |
Protection | -$58,000,000,000.00 |
General Government | -$32,000,000,000.00 |
Total for these 3 | -$231,500,000,000.00 |
Applying surplus from above yields | -$63,228,717,684.00 |
Solutions | |
Eliminate Corporate Welfare | $90,000,000,000.00 |
10 Percent National Sales Tax on Non-Essential Items | $78,000,000,000.00 |
104.77 Billion Total Surplus Achieved | $104,771,282,316.00 |
Current National Debt | $14,277,361,275,714.30 |
Years to pay off debt at 104.77 billion surplus per year | 136.27 |