Budget "Deal"

[Patriotic Sheepdog]

Well, it seems that the budget hawk, Paul Ryan (r) has put forth a budget deal to help reduce our deficit. Now, you notice they are not saying it will reduce our debt. The details I've read has stated that the budget will be reduced $23 Billion*. Notice the asterisk, what they aren't saying is that that amount will be over a ten year period. So that's $2.3 billion yearly. The "estimated" deficit this year is $650 billion, now we know the estimates from the gov is always low so.....

Now let's put the numbers into perspective. If your family budget was over budget by, oh let's say, $6500 for the year, you would think "wow, I've got to get a handle on this". So, you and your spouse sit down one day after getting back from eating out, flip on your cable equipped plasma TV, marvel how well the Mercedes rides and tackle the budget. After staying up arguing over what to cut, you settle on a budget that reduces your outlay $23 per year. You look at each other, smile and say "we have reduced our deficit $230*. "The children will be proud of us as we both took cuts to items we prized."

All I did was remove eight zeros from the example above. So you see how little of an effect it will have on our debt. Looking at it another way, over a ten year period (maintaining the proposed yearly deficit of $650 billion) they are taking $23 billion from $6500 billion or ($6.5 trillion). There is more to this proposed bill, but I'll leave it here for now.
BOHICA


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[Rmplstlskn]

Yes, look at the glittery, twinkling shiny stuff... Crisis averted! Now go out and SPEND in honor of pagan sun gods born on 12/25...

Rmpl

[rockriver]

Yes, look at the glittery, twinkling shiny stuff... Crisis averted! Now go out and SPEND in honor of pagan sun gods born on 12/25...

Rmpl

rmpl,
I hope you read it.
anyhow... later.

[Mannlicher]

with Solyndra alone, we lost half a trillion bucks. Reducing 2.5 Billion a year is nothing. White House spends that much on Michelle and the kid's travel and vacations.

[Patriotic Sheepdog]

Other items in the deal include, over the next decade;
$12 billion in higher security fees (think taxes) for airline passengers,
$8 billion in higher premiums for federal insurance for private pensions,
$6 billion in reduced payments to student loan debt collectors
$3 billion saved by not completely refilling the nations strategic petroleum reserves (this worries me).
$12 billion worth of savings will come from reduced contributions to federal pensions split between military retirees and new civilian workers starting after December 31,2013. For the military personnel the reduction is lower cost of living increases for retirees aged 40-62. New civilian hires would be required to contribute an additional 1.3% to their retirement. I find it interesting that current civilian federal workers would not be affected.

Additionally, there will be an additional two years of 2% cuts to Medicare providers.

What a deal! Thanks CONgress.



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