Interactive: You Fix the Budget

[progressive85]

I really like this interactive feature from the NYT.  They came out with it a few years ago, but its still fascinating and breaks things down into simple terms.

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?_r=0

It requires tough choices, which would probably be impossible with this Congress we have now.

Here is my deficit reduction plan:
http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=ymtk05lj

- cut foreign aid in half.
- eliminate earmarks.
- end farm subsidies.
- cut the pay of civilian federal workers by 5%.
- cut 250,000 government contractors.
- reduce nuclear arsenal and space spending.
- reduce military to pre-Iraq war size
- reduce Navy and Air Force fleets
- Cancel or delay some weapons programs
- Enact medical malpractice reform
- Cap Medicare growth
- Return estate tax to Clinton-era levels
- Return investment tax rates to Clinton-era levels
- Allow Bush tax cuts to expire for those making $250,000 and up
- Millionaire's tax
- Eliminating loopholes in tax code

It can be done.  It requires some tough, unpopular choices, which may amount to political suicide, but its worth it to pump more revenue into public coffers, balance the budget, and close the deficit.

I'd like to go back to Eisenhower economic policies.

Any surplus would be used to:
- expand Medicare for all
- pay for one year of college for every American student
- fund Pre-K in every elementary school
- establish the United States Public Service Academy

[Supersonic]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=rydph01d

29% tax increases to 71% spending cuts.

Cut foreign aid.
Cut farm subsides.
Cut federal pay.
Cut federal staff.
Cut government contractors.
Cut 'other' federal spending.
Cut aid to the states.

Cut nuclear arsenal and space spending.
Cancel and/or delay weapons testing.
Cut non-essential military staff.

Enact medical malpractice reform.
Medicare eligibility to 70.
Cap Medicare growth.
Social Security eligibility to 70.
Reduce high earners Social Security.
Tighten disability eligibility.
Use alternate inflation measures.

Enact Bowles-Simpson.
Reduce mortgage deduction.
National Sales Tax (toughest one to swallow..).

I tried to avoid cutting military spending and enacting new taxes. Use the surplus to begin paying off the national debt.

[politicallefty]

I recall doing this before, but I don't remember what I did before. Anyway, this time:

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=xvxk0brc

46% tax increases
54% spending cuts
$315 billion surplus in 2015
$468 billion surplus in 2030

I capped the growth of Medicare and didn't touch Social Security other than an increase in the payroll tax.

[Blue3]

Those numbers are 3 years out of date.

[Atlas Has Shrugged]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=zzfspj1f

[The world will shine with light in our nightmare]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=zzyl55m1

44% tax increases
56% spending cuts

• Cut spending on just about everything, eliminated farm subsidies
• No raise on eligibility ages
• Enacted medical malpractice reform
• Reduced benefits for people with higher incomes
• Used an alternate measure for inflation
• Returned the estate tax to Clinton-era levels
• Returned investment tax rates to Clinton-era levels
• Expired the Bush tax cuts for people making over $250,000 a year, kept them for people making less than that
• Millionaire's tax on income above $1 million
• Bowles-Simpson
• Bank Tax

[H. Ross Peron]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=gmfl06nz

66% tax increases, 34% spending cuts
$418 billion in savings by 2015
$1,724 billion in savings by 2030

-Eliminate Earmarks
-Eliminate farm subsidies
-Cut pay of federal workers by 5%
-Cut 250,000 government contractors

-Reduce nuclear arsenal and space spending
-Return military to pre-Iraq size and further reduce troops in Asia and Europe
-Cancel or delay some weapons programs
-Reduce noncombat military compenstation and overhead
-Reduce the number of troops in Iraq and Afghanistan to 30,000 by 2013

-Enact medical malpractice reform
-Reduce the tax-break for employer provided health insurance

-Return the Estate Tax to Clinton-era levels
-President Obama's proposal on investment taxes
-Allow Bush tax cuts to expire for income above $250,000 a year
-Payroll tax: Subject some income above $106,000 dollars to tax

-Eliminate loopholes and keep taxes slightly higher
-Reduce mortage-deduction and others for high-income households
-National Sales Tax
-Carbon Tax
-Bank Tax

[JerryArkansas]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=mu2phkg8

[badgate]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=452155nl

Mine was 50/50

edited to add here is my Liberal Hero plan, which is 73% tax increases http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=019j55qv

[Fmr President & Senator Polnut]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=d7tk5brb

[🐒Gods of Prosperity🔱🐲💸]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=hvtk503b

29% tax increases
71% spending cuts

*eliminate earmarks and farm subsidies
*civilian pay freeze, reduced federal workforce and contractors
*other cuts to federal government
*reduce nuclear arsenal, military size, and weapons programs
*reduce troops in Iraq and Afghanistan
*medical malpractice reform
*cap medicare growth
*social security means testing
*COLA
*millionaire tax
*Bowles-Simpson tax reform
*reduce mortgage deduction
*carbon tax
-reduce employer health coverage tax break but would change this to an individual tax break, so I didn't include it. 
-surplus ($105 b in 2015/$166 b in 2030) would be used for payroll tax reduction, so ultimately the proportion for tax increases would be closer to 20%.

caveat: I have to wonder if some of these options double count things, and of course this is a historical exercise to some degree at this point.

I have to wonder some of the options people are choosing that would frontload the savings to make $300 billion or so surpluses now.  That money will end up being spent by future congresses long before you need it for the long term entitlement problems if you do it that way.  Plus it's very unKeynesian and/or un-supply side if you care about that sort of thing.

[SPC]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?_r=1&

Technically leaves a $7 billion dollar deficit in 2015, but I suspect that would go away once the programs are eliminated rather than cut by a measly amount.

[TNF]

- Eliminate Earmarks
- Eliminate Farm Subsidies
- Cut 250,000 Government Contractors
- Reduce Nuclear Arsenal and Space Spending
- Reduce Military to Pre-Iraq War Size and Further Reduce Troops in Asia and Europe
- Reduce Air Force and Navy Fleets
- Cancel or Delay Some Weapons Programs
- Reduce the Number of Troops in Iraq and Afghanistan to 30,000 by 2013
- Reduce the tax break for employer-provided health insurance
- Reduce Social Security benefits for those with high incomes
- Return the Estate Tax to Clinton-era levels
- Return rates to Clinton-era levels
- Allow expiration for income below $250,000 a year
- Payroll tax: Subject some incomes over $106,000 to tax
- Millionaire's tax on income over $1,000,000
- Eliminate loopholes but keep taxes slightly higher
- Reduce mortgage deduction and others for high-income households
- Bank tax

Projected 2015 shortfall: $418 billion
Projected 2030 shortfall: $1,345 billion

I can't bring myself to cut Social Security or Medicare.

[krazen1211]

1. Sequestration I.
2. Sequestration II.
3. Repeat 1 and 2.

[© tweed]

these things are dangerous, they show how easy it all would be.

[Bacon King]

I like this one better

http://www.publicinsightnetwork.org/budgethero/

[bballrox4717]

these things are dangerous, they show how easy it all would be.

It's easy to click a button to cut off foreign aid, raise the Medicare age, or raise someone's taxes but it sure is harder to do it in real life when it affects the lives millions of people fighting to keep those very things from happening.

[Donerail]

You can cut the 2015 shortfall nearly in half just by some common-sense cuts in military spending. The rest achieved by Medicare/SS (which neither party is going to be willing to touch, is it?). But it's doable without either raising taxes or cutting domestic spending.

[H. Ross Peron]

Second try, I think I like this better: http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?_r=0

-Eliminate earmarks
-Eliminate farm subsidies
-Cut pay of civilian federal workers by 5 percent
-Cut 250,000 government contractors

-Reduce nuclear arsenal and reduce space spending
-Reduce military to pre-Iraq size and further reduce troops in Asia and Europe
-Cancel or delay some weapons programs
-Reduce the number of US troops in Iraq and Afghanistan to 30,000 by 2013

-Enact medical malpractice reform
-Cap Medicare growth starting in 2013

-Reduce Social Security benefits for those with high incomes
-Use an alternate measure for inflation

-Return the estate tax to Clinton-era levels
-Return investment tax rates to Clinton-era levels
-Allow expiration of Bush tax cuts for incomes above $250,000 a year
-Subject incomes above $106,000 to payroll tax

-Eliminate tax loopholes and limit the number of compensating cuts
-Reduce mortgage deduction and others for high income households
-National Sales Tax
-Carbon Tax
-Bank Tax

56% of savings from tax increases and 44% from spending cuts

355 billion dollars in surplus by 2015 and 891 billion dollars in surplus by 2030

[Old Man Svensson]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=fvx105qz

[RandomWonder]

Here is my plan:

Cut foreign aid in half.

Eliminate earmarks.

Cut pay of civilian federal workers by 5 percent.

Reduce the federal workforce by 10 percent.

Cut 250,000 government contractors.

Other cuts to the federal government.

Cut aid to states by 5 percent.

Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe.

Reduce Navy and Air Force fleets.

Cancel or delay some weapons programs.

Reduce noncombat military compensation and overhead.

Reduce the number of troops in Iraq and Afghanistan to 30,000 by 2013.

Enact medical malpractice reform.

Increase the Medicare eligibility age to 68.

Cap Medicare growth starting in 2013.

Raise the Social Security retirement age to 68.

Tighten eligibility for disability.

Eliminate loopholes, reduce rates (Bowles-Simpson plan).

Deficit solved!

Savings from tax increases: 14%.

Savings from spending cuts: 86%.

[Oldiesfreak1854]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=ck9k4j0t

I tried to make this as painless as possible:

Tax Increases: 39%
Spending Cuts: 61%

Domestic Programs/Foreign Aid

• Eliminate earmarks
• Cut pay of civilian federal workers by 5 percent
• Reduce the federal workforce by 10 percent
• Cut 250,000 government contractors

Military

• Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
• Cancel or delay some weapons programs
• Reduce the number of troops in Iraq and Afghanistan to 30,000 by 2013

Healthcare

• Enact medical malpractice reform
• Cap Medicare growth starting in 2013

Existing Taxes

• The Lincoln-Kyl proposal

New Taxes/Tax Reform

• Eliminate loopholes, but keep taxes slightly higher
• Bank tax

[Del Tachi]

I can't do it

My big-government Republicanism is getting in the way...

[Redalgo]

Most of my reform ideas are relatively radical and are not among the options provided, but I'd go with this plan: http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=431m05r2

If implemented in 2010, it would shift the projected 2015 budget shortfall from $418B to -$120B while turning the projected 2030 shortfall from $1.345T to -$0.34T. The difference would come from spending cuts (53%) and some increases in tax revenue (47%).

Domestic Programs and Foreign Aid

• Eliminate farm subsidies

Military

• Reduce nuclear arsenal and space spending
• Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
• Reduce the number of troops in Iraq and Afghanistan to 60,000 by 2015

Health Care Reform

• Enact medical malpractice reform
• Reduce the tax break for employer-provided health insurance
• Cap Medicare growth starting in 2013

Existing Taxes

• Return the estate tax to Clinton-era levels
• Return [investment tax] rates to Clinton-era levels
• Allow [Bush tax cut] expiration for income above $250,000 a year
• Payroll tax: Subject some incomes above $106,000 to tax

New Taxes and Tax Reform

• Millionaire's tax on income above $1 million
• Eliminate loopholes, reduce rates (Bowles-Simpson plan)
• Carbon tax

The results in this case are not useful in showing how my policies of choice would affect the deficit and national debt, unfortunately. There are some areas of spending I want to increase (e.g. space exploration, foreign aid, infrastructure, and state investments in the arts and sciences) while in others it is unclear whether changes would be more or less cost-effective - my best examples being across the board increases to the income tax, replacing Social Security and some means-tested programs with a basic income, and scrapping Medicare and Medicaid in favor of German-styled sickness funds. It is also unclear how my preferred replacement for the U.S. Constitution and shift toward a socialist economy would impact the sustainability of various public policies.

[Goldwater]

http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=hy8rhj1d

28% tax increases to 72% spending cuts.
   
Eliminate earmarks
Eliminate farm subsides.
Cut federal pay.
Cut federal staff.
Cut government contractors.
Cut 'other' federal spending.
Cut aid to the states.

Cut nuclear arsenal and space spending.
Cancel and/or delay weapons testing.

Enact medical malpractice reform.
Medicare eligibility to 70.
Reduce health insurance tax break.
Cap Medicare growth.
Social Security eligibility to 70.
Reduce high earners Social Security.
Tighten disability eligibility.
Use alternate inflation measures.

Enact Lincoln-Kyl.
Enact Bowles-Simpson.
Reduce mortgage deduction.
National Sales Tax (reluctantly).