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This seems like a no-brainer to me: if there is one thing this country needs to do as soon as possible, it is balance the budget! Unless we want to end up like Greece and many other countries, this needs to happen now. We all know what happens to us personally if we continue to spend more money than we have. There are three basic things that must be done to balance the budget without taking away essential programs from the needy.
Everyone talks about how social security is going to implode in about 20 years. This is the easiest of all our problems; raise the taxable social security amount a whole bunch, say to a million dollars. Us middle class folks are the backs the rich stood on to make their fortunes, why can’t they pay a little more? Last time I checked the maximum salary to contribute to social security is $117,000, everything made over that amount is social security tax-free. Change that!
Reduce the military budget by a mere 10%. You could even do it over a couple of year period so as not to impact the economy too severely. That would amount to $60,000,000,000 (that’s billion). Do you know that 20% of every dollar we pay in taxes goes to the military, of which 4% is spent on veterans from our many conflicts? And that is just the part that shows up in the budget. No wonder there is little money left for education or roads or most everything! Does that seem nuts to you? It does to me. According to a survey done in 2015 by Ashley Kirk, with The Telegraph, we spend more than the next 10 civilized countries added up! There is no doubt that we need to remain a strong military force on the planet but at what point does this become absurd! If you look at the chart you can see how crazy it is.
The world’s 25 largest defense budgets
|United Arab Emirates||14.7|