In 2011 – the United States government spent:
The Center on Budget and Policy Priorities breaks it all down for your viewing pleasure HERE.
The government spent more on those 5 areas of the federal budget alone than it collected in revenues. Those 5 areas total $2.45 trillion in spending compared to the $2.3 trillion in revenues the government collected in taxes and other income. So – when a conservative says they want “smaller government” – ask them which of those 5 areas they would cut first … because it is mathematically impossible to cut government spending and balance the budget without raising taxes on someone unless you cut many of these programs significantly.
So if you were left with an option between cutting defense or raising taxes on the rich – which would you prefer? If you were left with an option between reducing benefits for seniors via Medicare and Social Security or raising taxes on the rich – which would you prefer? If you were left with the option between eliminating health options for the disabled, elderly or children vs. raising taxes on the rich – which would you prefer? Or would you rather the government throw away its credit rating like conservatives tried to do last year and just not pay the interest?
They would rather see old people die than to raise taxes on the rich. Now – the only real way out of this problem is to get to full employment so that people are able to start working and paying taxes again. Simply taxing the rich isn’t the only solution to this problem … but it is an important part of the solution that is worth an extra $80 billion a year for the government to keep its programs solvent until the economy gets back to full employment and we’re off to the races again.
Well – we know what Mitt Romney and his running mate – Paul Ryan – would do.
Mitt Romney has proposed increasing the military budgets to 64% more than post-cold war budgets and 42% more than under Ronald Reagan when accounting for inflation. In short – he wants to increase military spending significantly and he hasn’t said how he is going to pay for this. (source)
Mitt Romney has proposed cutting taxes on America’s wealthiest by 20% but hasn’t said how he would pay for this. (source)
The Romney/Ryan plan would cut Medicaid by $800 billion over $10 years and that would mostly affect seniors and children (source)
The Romney/Ryan plan would increase premiums for all new enrollees to Medicare by 70% (source)
And as we’ve written HERE – Paul Ryan was a co-sponsor to privatize Social Security.
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