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Of course you can prove that.
For it not to be a falsehood, there has to be a factual backing.
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Of course you can prove that.This thread is more about the falsehood that the budget can be balanced without cutting entitlements (and/or raising revenue).
Post #20 already covered the simple mathematics involved.Of course you can prove that.
For it not to be a falsehood, there has to be a factual backing.
You went from entitlements. With an emphasis on Social Security to discretionary spendingThus, to eliminate the deficit (i.e. balance the budget), we would have to reduce discretionary spending by $1.8 trillion, leaving -$0.2 trillion for discretionary spending.
No, I just want you to understand what I did the first time. (and the second time)Social Security is not discretionary
Want to try again?
Ideally general revenues would not have cover issuing lots of T-bills to pay interest and the shortfall from the amount paid in and the amount paid out due to demographic changes. Things are far from ideal.Federal SSI benefits and administrative costs are financed by annual appropriations from general revenues.
I've deficit-spent to purchase a house few times. Its worked out pretty well.I voted no...
But without knowing the details of what kind of balanced budget amendment you had in mind, I was just going off of the sentiments surrounding it I often hear presented.
A flat out "no, you can't spend more than the government is bringing in" is too rigid and it doesn't allow for emergencies and other extenuating circumstances.
Same would be true for a personal budget as well.
While I like striving for keeping my spending within my budget with savings set aside. I like knowing I've got the option for lines of credit should an emergency pop up.
I think my deficit was 200% of Gross Durangodawood Product one time!I've deficit-spent to purchase a house few times. Its worked out pretty well.
did you keep that up for 30 years ?I think my deficit was 200% of Gross Durangodawood Product one time!
Mandatory spending in FY2024 about $4.2 trillion. So cutting that to $3.3 trillion requires a ~21% cut in mandatory spending. No one will cry if we cut Congresscritters' salaries, but that's not going to save very much out of the mandatory budget. So inevitably it'll get into SNAP, Social Security, disability insurance, Medicare, veteran's benefits -- things people rely on and are literally entitled to.
What is the last three words or the title of your own link?White House insists Musk cuts to Social Security, Medicare won’t affect benefits
Elon Musk alleged that up to $700 billion in entitlement spending could be “waste and fraud”
[Sort of like feeding malnourished children through USAID is 'waste and fraud'. You feed them, and the kids are hungry again tomorrow! What a waste!]
Discussing his efforts to cut federal spending during a Fox Business interview Monday, Musk suggested that “waste and fraud” in the programs is “the big one to eliminate.” [as I pointed out above, it is impossible to cut your way to a balanced budget without touching them] Musk estimated that a “half-trillion, maybe 6, 700 billion a year” could be saved through eliminating the waste and fraud he claims exists in entitlement spending.
The programs cost more than $2.9 trillion in fiscal 2024, meaning Musk is suggesting that up to 24 percent of their budget is fraud and waste. That figure is much higher than what has been identified by watchdogs.
Government auditors have previously found that about $10 billion in improper Social Security payments are made per year on average, accounting for less than 1 percent of benefit payments, and about $100 billion in payment errors were made in Medicare and Medicaid in 2023. Those numbers don’t encompass other types of fraud found through government investigations.
On Tuesday afternoon, White House press secretary Karoline Leavitt said that Musk was referring only to cutting “the waste and the fraud and the abuse that does exist in these programs,” alleging that the “mainstream media has taken Mr. Musk out of context.”
Musk has previously attacked Social Security, calling it a “Ponzi scheme” and reposting a meme calling people who receive federal benefits “the Parasite Class.”
Giving money to parasites sounds like waste and fraud.
That is what the White House insists. Trump also insisted he wouldn't 'touch' Social Security and Medicare.What is the last three words or the title of your own link?
won't effect benefits - nuff said...
We could just put retired people out on ice flows, as the Inuit used to do long ago.White House insists Musk cuts to Social Security, Medicare won’t affect benefits
Elon Musk alleged that up to $700 billion in entitlement spending could be “waste and fraud”
[Sort of like feeding malnourished children through USAID is 'waste and fraud'. You feed them, and the kids are hungry again tomorrow! What a waste!]
Discussing his efforts to cut federal spending during a Fox Business interview Monday, Musk suggested that “waste and fraud” in the programs is “the big one to eliminate.” [as I pointed out above, it is impossible to cut your way to a balanced budget without touching them] Musk estimated that a “half-trillion, maybe 6, 700 billion a year” could be saved through eliminating the waste and fraud he claims exists in entitlement spending.
The programs cost more than $2.9 trillion in fiscal 2024, meaning Musk is suggesting that up to 24 percent of their budget is fraud and waste. That figure is much higher than what has been identified by watchdogs.
Government auditors have previously found that about $10 billion in improper Social Security payments are made per year on average, accounting for less than 1 percent of benefit payments, and about $100 billion in payment errors were made in Medicare and Medicaid in 2023. Those numbers don’t encompass other types of fraud found through government investigations.
On Tuesday afternoon, White House press secretary Karoline Leavitt said that Musk was referring only to cutting “the waste and the fraud and the abuse that does exist in these programs,” alleging that the “mainstream media has taken Mr. Musk out of context.”
Musk has previously attacked Social Security, calling it a “Ponzi scheme” and reposting a meme calling people who receive federal benefits “the Parasite Class.”
Giving money to parasites sounds like waste and fraud.
Not if the arctic keeps melting.We could just put retired people out on ice flows, as the Inuit used to do long ago.
We probably could not reduce it by quite that much but depending on whether it would affect retirement or just disability we could liely reduce it by quite a bit ( and I am saying this as someone who is disabled by the way.We could just put retired people out on ice flows, as the Inuit used to do long ago.
just because he SAYS it will not affect benefits does not make it SO.What is the last three words or the title of your own link?
won't effect benefits - nuff said...
Surely the leopards will leave you alone.We probably could not reduce it by quite that much but depending on whether it would affect retirement or just disability we could liely reduce it by quite a bit ( and I am saying this as someone who is disabled by the way.
just because he SAYS it will not affect benefits does not make it a conspiracy either.just because he SAYS it will not affect benefits does not make it SO.
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