The U.S Budget

I want to make sure everyone understands the requirements for Discussion.  You must use the spending items or tax proposals provided by School.  You are not to come up with your own.  You must also not change the amounts provided by School.  For example, if one option is to eliminate farm subsidies by $14 Billion, you need to accept the entire cut.  You cannot change that figure of $14 Billion to a number of your own choice. When you post your initial post for Discussion , it would be appreciated if you posted your choices in list form like this in your Discussion: Cut some foreign aid to African countries:  $17 billion Reduce the overall federal workforce by 10%:  $12 billion Add a national 5% sales tax:  $41 billion After you provide your list, start your Discussion and discuss these numbers in your Discussion.  When the numbers are incorporated within the body of the Discussion in different areas without listing them first, it makes it difficult for everyone to compare and contrast your choices.  By providing your choices first in a list, we can view your choices and then read your analysis of  Discussion. Initial Post Instructions You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Submit your recommendations and your reasoning for such recommendations using these guidelines: – Use evidence (cite sources) to support your recommendations from assigned readings or online lessons, and at least one outside scholarly source. – Use the format provided below to present your numbers and totals followed by an explanation below the chart. – Please note that these are not true US budget numbers, but are reasonable hypothetical numbers to help us consider the budget processes complexities. DOMESTIC PROGRAMS AND FOREIGN AID Cut some foreign aid to African countries $17 billion   Eliminate farm subsidies $14 billion   Cut pay of civilian federal workers by 5 percent $14 billion   Reduce the overall federal workforce by 10% $12 billion   Cut aid to states by 5% $29 billion MILITARY Cut the number of nuclear warheads, and end the “Star Wars” missile defense program $19 billion   Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe $25 billion   Cancel or delay some weapons programs $19 billion HEALTHCARE Enact medical malpractice reform by reducing the chances of large malpractice verdicts $ 8 billion   Increase the Medicare eligibility age to 68 $ 8 billion   Raise the Social Security retirement age to 68. $ 13 billion EXISTING TAXES Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed. $ 50 billion   End tax cuts for income above $250,000 a year $ 54 billion   End tax cuts for income below $250,000 a year $ 172 billion   Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare. $ 50 billion NEW TAXES Institute a Millionaire’s tax on income above $1 million $ 50 billion   Add a national 5% sales tax $ 41 billion   Add a tax on carbon emissions $ 40 billion   Tax banks based on their sizes and the amount of risk they take. $ 73 billion Total gap covered by your budget plan   $_________________

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