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Topic: Federal Debt and Deficit

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847badgerfan

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Re: Federal Debt and Deficit
« Reply #294 on: June 26, 2025, 02:15:55 PM »
I know we can discuss ad nauseum about what's driving the spending is mostly entitlements, but at what point do we need to just simply say " we're broke" and NOT spend money on things that we obviously don't need?  Every dollar we spend over the budget is a dollar we have to borrow and pay back with interest.  If this is happening at one federal agency think about how many other places it's happening?  It's one thing to need to spend money on critical items like airliner safety to upgrade the aircraft traffic controllers or crumbling roads or whatever.  It just really pisses me off that this type of spending is still going on all across the board. 
The federal government is the most inefficient organization on Earth. I've done a lot of work for and with many Federal agencies. Trust me. It's sickening.
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Gigem

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Re: Federal Debt and Deficit
« Reply #295 on: June 26, 2025, 02:54:22 PM »
I don't think anyone, even the most pro-spending liberal, is actually advocating for spending on things that we obviously don't need*.  The point that a lot of us on here are making vis-a-vis entitlements is that you simply can't even have an appreciable impact on overall federal spending, deficit, and debt without taking on entitlements. 

The federal budget, revenue, and expenditures are hard for most people to even comprehend because it is just so freaking big. 

I would guess that everyone here is probably willing to take your word for it that the US Fish and Wildlife Service's vehicle servicing facility on Matagorda Island is 100% unnecessary and a complete waste of money.  You guessed $3M for the entire project. 

Total Federal Spending for FY 2024 was $6.8 Trillion and revenues were $4.9 Trillion leaving a deficit of $1.83 Trillion. 

You would have to eliminate 610 THOUSAND items equivalent to the US Fish and Wildlife Service's vehicle servicing facility on Matagorda Island just to reduce the current year deficit (not the total debt, just what gets added to it in a year) by 1%.  That kind of scale is just really hard to comprehend. 

Two notes:
  • I *THINK* I did the math right above but there are so many freaking zeros that I might have messed up transcribing them, and
  • The "*" above is to note that there is an exception for spending for Keynesian reasons during times of economic distress.  We got a lot of grants during the aftermath of the 2008 credit crunch and again during the Pandemic in which the statutory language literally stipulated that the the language of the grants was to be interpreted liberally in FAVOR of the grantee.  That is legalese for the Feds basically saying "We don't care what you spend this on, just spend it to juice the economy." 
Again, we've all agreed that something like this isn't even a drop in the proverbial bucket.  That the only way you can reduce the FD&D is to cut entitlements, raise taxes, or a combination.  But the best way to get yourself out of a hole is to stop digging.  I firmly believe that Elon truly could have trimmed $1 trillion from the budget, but even if they truly only did save $200 billion or whatever the number ended up being it's that much less we have to borrow.  We have to stop digging, even if the "shovels" are the size of thimbles.  Death by a thousand cuts is what I'm referring to.  

Cincydawg

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Re: Federal Debt and Deficit
« Reply #296 on: June 26, 2025, 03:13:25 PM »
Congress obviously decides how much to spend on this and that.  DOGE really does not have the power to change that much at all.  

medinabuckeye1

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Re: Federal Debt and Deficit
« Reply #297 on: June 26, 2025, 03:16:36 PM »
Again, we've all agreed that something like this isn't even a drop in the proverbial bucket.  That the only way you can reduce the FD&D is to cut entitlements, raise taxes, or a combination.  But the best way to get yourself out of a hole is to stop digging.  I firmly believe that Elon truly could have trimmed $1 trillion from the budget, but even if they truly only did save $200 billion or whatever the number ended up being it's that much less we have to borrow.  We have to stop digging, even if the "shovels" are the size of thimbles.  Death by a thousand cuts is what I'm referring to. 
I don't disagree and I said back then that I thought DOGE had the potential to be not only a major benefit for the country but also a MASSIVE political win for Trump.  

Someone on here, it might have been you said something to the effect that if Trump said to breathe a substantial portion of Democrats would hold their breath until they passed out.  

IF (a VERY big if) Trump/Elon/someone really did tear into Federal Expenditures and scour them for things like a complete $3M waste of money vehicle servicing station on whatever Island and managed to cut say $200 Billion that would help a little.  As a practical matter, not much because $200 Billion is ~10% of the FY 2024 deficit.  That said, obviously $200 Billion is a LOT of money and I *THINK* that most Americans would see that as a worthwhile accomplishment.  

Meanwhile, the Democrats probably wouldn't be able to help themselves.  Those "I'll pass out holding my breath if Trump says to breathe" types are inherently going to fight tooth and nail against literally ANYTHING that Trump does and, if he played his cards right, Trump could end up framing the Democrats as the party of wasteful spending on $2,500 toilet seats, $1,500 hammers, and $3M unneeded vehicle servicing stations.  

Politically that isn't a winning argument for Democrats.  They'd try to redirect by framing it as a debate over cuts to things that are less black-and-white obvious wastes but frankly the shorter, punchier argument usually wins so in a contest of "They are defending $2,500 toilet seats and $1,500 hammers" vs "We think that some of the cuts should be reevaluated and that useful governmental services blah blah blah . . . blah blah blah . . . (go on for three pages) . . . blah blah blah", Trump wins.  

medinabuckeye1

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Re: Federal Debt and Deficit
« Reply #298 on: June 26, 2025, 03:30:09 PM »
On the subject of spending cuts:

We ask our NATO allies to spend 2% of GDP on defense and some of them don't.  I personally believe that our defense spending should be 2% of GDP.  We can't cut it below that without being hypocrites since we ask our NATO allies to spend 2% of GDP so I'd stop there.  

According to the AI answer to a quick google query current defense spending is about 3.5% of GDP so what I am proposing here is a approximately a 43% cut in defense spending.  That is an ENORMOUS cut.  Realistically it would need to be phased in and (hopefully) GDP would rise while it was being phased in so the actual cut would be somewhat less but the end goal would be to reduce defense spending to 2% of GDP.  

The above would be a massive cut and it would be a political fight of epic proportions and the end result would be to reduce Defense spending enough to cut the deficit from $1.83 Trillion to $1.45 Trillion.  

That last sentence explains why it doesn't happen.  It wouldn't make enough of a difference to be worth the political consequences of doing it.  The President who pushed this would be blamed for EVERY mishap to befall us for all time with various members of the "Military-Industrial Complex" proclaiming that each calamity was the direct result of President X's irresponsible cuts to the Defense Budget.  

Cincydawg

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Re: Federal Debt and Deficit
« Reply #299 on: June 26, 2025, 03:34:57 PM »
A thing about NATO expenditures on defense, none of them have any military force need in the Pacific (to speak of).  We do.

Much of our spending is to have the ability to project force.  Most other countries have militaries intended for defense and minimal force projection.  Nobody else has anything like 10 fleet carriers, and the US also has a number of smaller carriers that can and do operate F35B fighters.  Projecting force costs a LOT of money.

utee94

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Re: Federal Debt and Deficit
« Reply #300 on: June 26, 2025, 04:02:16 PM »
USA projecting force:


MrNubbz

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Re: Federal Debt and Deficit
« Reply #301 on: June 26, 2025, 04:29:57 PM »
Hey I voted for him "But my hypocrisy only goes so far"
"Once in Africa I lost the corkscrew and we were forced to live off food and water for weeks." - Ernest Hemingway

utee94

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Re: Federal Debt and Deficit
« Reply #302 on: June 26, 2025, 04:44:40 PM »
I didn't vote for him but there's no denying that's an awesome graphic.

FearlessF

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Re: Federal Debt and Deficit
« Reply #303 on: June 26, 2025, 06:16:30 PM »
The above would be a massive cut and it would be a political fight of epic proportions and the end result would be to reduce Defense spending enough to cut the deficit from $1.83 Trillion to $1.45 Trillion. 

That last sentence explains why it doesn't happen.  
well, that's stoopid
cutting the deficit at all should be a GREAT reason why it should happen
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utee94

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Re: Federal Debt and Deficit
« Reply #304 on: June 26, 2025, 06:46:51 PM »
Just cut everything across the board by 27%, and then make it illegal to ever run a deficit again.

Simple.

Well, actually, you can't cut debt service of course.  And you should probably build in some funds to pay against the debt principal.  

So more like, cut everything across the board by 37%, and then make it illegal to ever run a deficit again.

Simple.

OrangeAfroMan

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Re: Federal Debt and Deficit
« Reply #305 on: June 26, 2025, 07:20:15 PM »
Seems we're having to hire back a bunch of the DOGE cuts.  

Who could have predicted such a thing?!?
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Gigem

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Re: Federal Debt and Deficit
« Reply #306 on: June 26, 2025, 09:27:41 PM »
What good does it do to have the best military in the world if you can’t afford to fight with it ?  

I also wonder how effective B2’s or any other “stealth “ aircraft would fare against a 1st world military given that it has to give off a massive thermal signature. The B2 is a 1970’s design that first flew in the 1980’s. Can you imagine how far thermal imaging, night vision, and even radar has come since then ?  

Cincydawg

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Re: Federal Debt and Deficit
« Reply #307 on: June 26, 2025, 09:50:46 PM »
B2 thermal exhaust is directed such that it isn’t seen from below very much. 

The B21 obviously should be more advanced.   

 

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