Some Simple Facts about U.S. Government Debt

[KenH]

• If any typical American family spent and borrowed like the federal government does, this family would spend $100,000 a year, despite only earning $78,000. This family would borrow the additional $22,000 in one year, on top of having already borrowed more than $400,000 in total.
• Of every $10 the government spends, more than $7 is spent on autopilot, without members of Congress having to vote before spending that money. Congress only votes on how to spend $3 of every $10.

Rest of column at Some Simple Facts about U.S. Government Debt | Cato at Liberty Blog

 

[Salty]

We simply need to cut down our spending -. How about this ideal -

1) Only spend what the COTUS allows
2) Cut Congressmen's pay by 50%
(but that would only save 46 million dollars a year
3) minority and majority leaders rec an extra $19,400 / year
Why is the govt paying for political positions!!!
Those 4 positions cost taxpayers $77,600 per year.

Here is a list of other benefits

Health Care -
1) Congress should have its own health care facility -
and staffed by military personnel. In their home district - they should be authorized
to use the VA health care facilities.

2) Pension - NO Govt funded pension

The government Spends:

per year: 6,500,000,000,000
per day: 17,808,219.000
per hour 742,009,132.43
per minute 12,366,818.88
per second 206,113.65

Thus by cutting the pay of congress in half would only save
about 4 minutes of savings!!!!!

About 500,000,000 a year is spent for retirement of govt workers (including military)

The retirement formula for civilian govt worker is somewhat complex.
One aspect is if you have as little as 5 years service you can retire at age 62.

Another aspect - I am not sure of the specifics - a military retiree can retire at 20 years service - then get a federal govt job and then get a second retirement check ....

And this is the current system for military retirement

Another consideration: Military disability
A GI who has suffered injury and or disease due to military service
is entitled to disability pay.
Under the old system - a military retiree would loose$1 for each dollar he received in disablity. (note: retirement is taxable - disability is not)
But now - well, this also is complicated


Should a military retiree be eligible for un-employment?
An E- 6 - with full basic monthly pay of $4616 - his retirement would be in excess of $2,000 a month!

So how should we reduce the budget?

 

[37818]

• If any typical American family spent and borrowed like the federal government does, this family would spend $100,000 a year, despite only earning $78,000. This family would borrow the additional $22,000 in one year, on top of having already borrowed more than $400,000 in total.
• Of every $10 the government spends, more than $7 is spent on autopilot, without members of Congress having to vote before spending that money. Congress only votes on how to spend $3 of every $10.

Rest of column at Some Simple Facts about U.S. Government Debt | Cato at Liberty Blog

Not simple.

 

[KenH]

Not simple.

One man's rocket science is another man's Occam's razor.