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Monday, July 16, 2012

"The Next President Needs to Focus on the Federal Budget": What Balanced Deficit Reduction Looks Like



I'm about to lay out a Deficit Reduction plan that would not only balance the Federal Budget but start to pay down our Federal Debt. That the President and Congress will never offer at least on their own but would not only get these problems not crisis's, every problem now a days seems to be labeled a crisis. But the debt and deficit are problems which is different but if these problems aren't addressed in the next few years, they'll become a crisis. But Deficit Reduction should be about four things, strategic cuts, reforms, new revenue and Economic Growth. A Deficit Reduction Act should also come with an Economic Recovery Act, you pass an Economic Growth Act thats paid for first. Deficit Reduction would become a lot easier, because you wouldn't have to find new cuts to pay for the Tax Cuts or Infrastructure Investment or whatever things you decide to put in an Economic Recovery Act. Strategic cuts are cuts designed to make the Federal Government not only cheaper but more efficient. Reforms to make the Federal Government work better so it doesn't cost as much, as well as doing less, more responsibility for the States and Private Sector. New revenue through better Economic Growth, more people working and paying taxes and Tax Reform.

Deficit Reduction should target three areas, Social Insurance programs, especially Social Security, Medicare, Medicaid and Unemployment Insurance. National Defense, so we are committed in less places in the World, especially in the Developed World and we are no longer borrowing for our Military Operations around the World. New revenue, again Economic Growth which leads to more people working and paying taxes, as well as Tax Reform, eliminating all of the wasteful Tax Loopholes in the Tax Code. And I would target Corporate Welfare first and when it comes to Social Insurance, I would go after Medicaid first, make it Self Financed and turn it over to the States or Private Sector to run but keep it Non Profit. So they have to serve anyone is eligible for it. Unemployment Insurance, again turn it over to the States and Private Sector to run, keep them Non Profit like Medicaid and turn it into Employment Centers so they are in the business of putting people back to work.

I would do the same thing with Medicare and make it a Public Option as well and allow non Senior Citizen workers to pay into it and use Medicare as their Health Insurance. But the Federal Government would no longer run it, allow each State to have its own Medicare and Social Security Systems that the Federal Government would regulate. And we save over a trillion dollars alone in our Social Insurance budget. Libertarian Presidential Nominee Gary Johnson has a similar Deficit Reduction plan but his plan will never be offered by the President or Congress either.