Friday, March 30, 2012

Also sprach the Catfood Commissioners

March 30 (Bloomberg) -- Erskine Bowles and Alan Simpson, who co-chaired President Obama's Deficit Reduction Commission, speak about the U.S. budget deficit.

Tonight on Charlie Rose@ 7p & 10p ET.

Rightardia has suggested Social security can be fixed by getting rid of the Social Security cap that is $110,100 for 2012. The Social Security part of the FICA tax is regressive and the burden of this tax has been on the middle class since the inception of this program. 

Medicare is a tougher nut. The shrinking numbers of American workers are part of the problem. This program will need to streamlined and tightened up.

Of course, Social Security and Medicare are entitlement programs funded by the FICA payroll tax. For the most part, the taxes collected  from these programs are not discretionary. 
Income  Tax funds a variety of discretionary federal programs and defense takes the biggest bite, about 30 per cent. However, when you add in Veterans Affairs and Homeland Security, the cost of defense is about 60 per cent of federal discretionary spending. 

Rightardia is well-aware of the Transition 21 efforts of General Shinseki in the VA. The VA is trying to streamline a Byzantine system. 

However, Homeland Security is a growth system that is using tremendous resources to fight a limited threat: terrorism. Homeland Security seems to be intent on bugging the US communications infrastructure using a justification of Islamic extremism. 

Many Americans were aghast when the cost of the Iraq War approached $ one trillion. Guess what! The life cycle cost will hit $ 4 trillion as veteran's claims are added into the overall cost.

Want to prevent another stupid war? 

Stop electing Republican war monkeys like Mitt Romney, Rick Santorum or Newt Gingrich! 

Any of those three will get the US into another war, probably in the middle east. 

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