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Author: Subject: Defict rises 17% to the highest level since 2012

World Class Peach





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  posted on 10/15/2018 at 04:36 PM
https://www.cnn.com/2018/10/15/economy/us-budget-deficit/index.html

 

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Peach Extraordinaire



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  posted on 10/15/2018 at 05:14 PM
Deficits really mean nothing to "fiscal conservative" GOP hypocrites. When Obama attempted for CR's, the GOP screamed loudly, but in a Trump admin they are silent as church mice. When we have to pay the piper, look no further than "the numbers guy", Paul Ryan and political operative, Mitch McConnell.
 

Universal Peach



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  posted on 10/16/2018 at 03:58 PM
As predicted, McConnell and "Wonder Boy" Ryan are now demanding entitlement reform as a way to now address the exploding deficit they created...Created to further enrich the top .01% and add even more bloat to our already bloated trillion dollar annual military budget..
 

Peach Extraordinaire



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  posted on 10/16/2018 at 05:59 PM
quote:
As predicted, McConnell and "Wonder Boy" Ryan are now demanding entitlement reform as a way to now address the exploding deficit they created...Created to further enrich the top .01% and add even more bloat to our already bloated trillion dollar annual military budget..


Maybe we should begin by looking at the many perks congressmen get and also their juicy retirement packages. And while we're at it, take a good look at their health care plans.

All of this would amount to exceptionally small percentages, but the perception would be > outlay.

They are servants of the people, and should be paid and receive benefits / entitlements in proportion to the people they work for. Listening to these "leaders", many certainly don't seem to possess exceptional skills.

 

Ultimate Peach



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  posted on 10/16/2018 at 06:27 PM
I dont disagree with any of these points or suggestions. Paul Ryan lost all credibility with plenty of Republicans and Conservative Democrats when they got on board with that huge spending bill.

 

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World Class Peach



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  posted on 10/16/2018 at 06:37 PM
And Trump signed it

 

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Flies all green 'n buzzin' in his dungeon of despair

Who are all those people that he's locked away up there

Are they crazy?,

Are they sainted?

Are they zeros someone painted?,

It has never been explained since at first it was created

 

Ultimate Peach



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  posted on 10/16/2018 at 06:46 PM

Both President Obama and Trump signed key spending bills in the first half of their first terms. Both had different ideas on how the money should be spent. Obama was dealing with a fiscal collapse. Time will tell how Trumps spending bill will work out.

 

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Peach Extraordinaire



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  posted on 10/16/2018 at 07:16 PM
quote:

Both President Obama and Trump signed key spending bills in the first half of their first terms. Both had different ideas on how the money should be spent. Obama was dealing with a fiscal collapse. Time will tell how Trumps spending bill will work out.


A somewhat valid point. However, the tax bill is the main reason for the exploding deficit.

 

Peach Extraordinaire



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  posted on 10/16/2018 at 07:47 PM
quote:
quote:

Both President Obama and Trump signed key spending bills in the first half of their first terms. Both had different ideas on how the money should be spent. Obama was dealing with a fiscal collapse. Time will tell how Trumps spending bill will work out.


A somewhat valid point. However, the tax bill is the main reason for the exploding deficit.


But Mitch blames it on the Dems & entitlement spending. No mention by him of GOP exploding deficits enacted by the GOP tax cuts that benefited disproportionately the wealthiest 1% and corporations.

Isn't supply side economics geared more at short time gratification and maybe in this case, trying to gain more votes?

 

Universal Peach



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  posted on 10/20/2018 at 01:06 PM
To be fair, we do need legitimate entitlement reform. We need to increase the annual revenue for both Social Security, Medicare, and Medicaid.....We can properly capitalize all three and expand Medicare coverage to far more by increasing the amount WE ALL pay.

We do this by removing the cap on wages which as it now stands benefits the moderately wealthy as only a portion of their wages are taxed for entitlements and the very wealthy pay very little or nothing at all given most of their wealth is not typically earned via wages. In the case of the extremely wealthy, they should be required to pay into the fund via a mechanism similar to the AMT tax now in place.

Secondly, those who do earn wages pay slightly more than present via a progressively determined increase in the percentage they and their employer now pay into both funds. More people on Medicare means, potentially, fewer dollars employers now pay for health insurance and thus could be a far better deal in the long run for employers.....

Obviously the actual numbers need further review and analysis but I think you get my drift...

Thirdly, we need cost controls and CONTINUOUS improvement in improving delivery and services within all entitlement programs. This includes fraud within Social Sercurity, Medicare and Medicaid. We need serious effort and resources within these programs devoted toward cutting fraud, waste, and old and outdated administrative procedures that can make these programs inefficient and overly expensive to operate. Also, reform is NOT a one time process and must be ongoing and data driven.

The citizens of this nation have made it very clear time and time again that they want these programs and are willing to pay for them even if it means an increase in the amount they as individuals contribute.

[Edited on 10/20/2018 by Chain]

[Edited on 10/20/2018 by Chain]

 

Peach Extraordinaire



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  posted on 10/21/2018 at 10:59 AM
quote:
To be fair, we do need legitimate entitlement reform. We need to increase the annual revenue for both Social Security, Medicare, and Medicaid.....We can properly capitalize all three and expand Medicare coverage to far more by increasing the amount WE ALL pay.

We do this by removing the cap on wages which as it now stands benefits the moderately wealthy as only a portion of their wages are taxed for entitlements and the very wealthy pay very little or nothing at all given most of their wealth is not typically earned via wages. In the case of the extremely wealthy, they should be required to pay into the fund via a mechanism similar to the AMT tax now in place.

Secondly, those who do earn wages pay slightly more than present via a progressively determined increase in the percentage they and their employer now pay into both funds. More people on Medicare means, potentially, fewer dollars employers now pay for health insurance and thus could be a far better deal in the long run for employers.....

Obviously the actual numbers need further review and analysis but I think you get my drift...

Thirdly, we need cost controls and CONTINUOUS improvement in improving delivery and services within all entitlement programs. This includes fraud within Social Sercurity, Medicare and Medicaid. We need serious effort and resources within these programs devoted toward cutting fraud, waste, and old and outdated administrative procedures that can make these programs inefficient and overly expensive to operate. Also, reform is NOT a one time process and must be ongoing and data driven.

The citizens of this nation have made it very clear time and time again that they want these programs and are willing to pay for them even if it means an increase in the amount they as individuals contribute.

[Edited on 10/20/2018 by Chain]

[Edited on 10/20/2018 by Chain]


The primary concern is with the cap on wages that are taxed. This makes the taxation regressive I suppose. Once you hit the threshold, it's clear & free.

I do believe that we as a country have become comfortable with the label "entitlement". The fact is that as workers, we pay into Medicare & SS through deductions. Medicaid is a different discussion. The gov't invests our deducted contributions over a lifetime, and we benefit from our own money being invested. Part of the problem comes when Congress raids the piggy bank with IOU's. "Entitlement reforms" are easy campaign rally fodder, but those chanting in support don't grasp they're chanting and voting against self interest unless we look at self interest in an entirely different light, and that's a bigger discussion.

I do agree there needs to be reform, but this should be folded into more macro reform of gov't budgeting and spending. I don't think those in power really want this or would address this. Worse - they're incapable of making the real decisions that need to be made.

Chain - I like your post and your depth of knowledge of subject matter. That is refreshing & will leave it at that.

 

Universal Peach



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  posted on 10/21/2018 at 03:01 PM
Thanks Martin.....With regard to the cap on wages being removed, that would be a very good first step. However, for truly long term fiscal health and to address additional revenue needs should we ever expand Medicare, additional reform would be needed.

I dare say if ever a poll were conducted I suspect the majority of wage earning Americans would readily contribute more if they knew the entitlements would be solvent for their lifetime and guarantee basic medical coverage their entire life (or maybe at least age 50 rather than 65)...Also, the actual increase may not be all that much more if combined with removal of cap, cost controls, less fraud, etc....

I know I would gladly pay a bit more each pay check if it guaranteed my actually receiving benefits for my entire life or at least the latter part.

Also, I agree with your point about the sly way certain interests have managed, over time, to make the word "entitlement" part of the accepted nomenclature. Much like the way the Right has made liberalism an evil word, they've done the same with entitlements.

As you point out, the vast majority of Americans who receive these benefits have paid into the funds their entire adult lives and are only now getting what they paid for. Why the Dems and others haven't found a more appropriate word to use and continually shout it out loud at every opportunity escapes me.

 
 


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