Taxes to increase on everyone so says CBO

[TGHusker]

This may be of no to little surprise. Looks like I won't be able to by that 200 foot yacht with the helicopter landing bad now.

 

http://www.newsmax.com/Newsfront/taxes-steadily-rise-CBO/2014/07/16/id/583152/

http://www.cbo.gov/sites/default/files/cbofiles/attachments/45471-Long-TermBudgetOutlook.pdf

http://www.politico.com/story/2014/07/tax-increase-ahead-congressional-budget-office-108983.html

 

Quote from the heart of the article:

 

"Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing its debt to soar," the report notes, according to CNS News.

"The total amount of federal debt held by the public is now equivalent to about 74 percent of the economy's annual output," which is a "higher percentage than at any point in U.S. history, except a brief period around World War II."

In contrast, the national debt "stood at 39 percent of [gross domestic product] at the end of 2008," the CBO noted.

This massive debt will continue to increase over the next two decades because of an "aging population, rising healthcare costs and an expansion of federal subsidies for health insurance," the CBO warns.

The cost of Social Security, Medicare, Medicaid and subsidies through the Affordable Care Act will rise to 14 percent of gross domestic product, or double what it's been in the past, the CBO said, adding it's a "trend that could not be sustained indefinitely."

The tax and debt increases, the CBO predicts, will happen slowly, and there will be no quick fixes.

To put the federal budget on a sustainable course, the CBO recommends "reducing spending for large benefit programs below the projected levels, letting revenues rise more than they would under the current law, or adopting some combination of those approaches."

[knapplc]

Ummmm.... why aren't any of these articles mentioning the elephant in the room - defense spending? Focusing the tax increases on Obamacare's influence alone ignores about 60% of the national budget, right?

[BigRedBuster]

A little more positive spin on things from the CBO.

 

Spending projected down compared to GDP

 

Now, I have always been frustrated by CBO projections because they seem to always be projecting out 20 years when it's almost impossible to even project 4 years. It's almost like they try to show how smart they are when nobody can really argue with their projections 20 years down the road because nobody has a clue.

 

[BigRedBuster]

Ummmm.... why aren't any of these articles mentioning the elephant in the room - defense spending? Focusing the tax increases on Obamacare's influence alone ignores about 60% of the national budget, right?

 

 

It would be nice to be able to do this but I don't think we ever could.

 

No military

[TGHusker]

 

Ummmm.... why aren't any of these articles mentioning the elephant in the room - defense spending? Focusing the tax increases on Obamacare's influence alone ignores about 60% of the national budget, right?

 

 

It would be nice to be able to do this but I don't think we ever could.

 

No military

 

Would be nice but most have someone protecting them in some way. Costa Rica for example has the USA to protect it, Iceland has NATO, etc. But Costa Rica also leads the world in the 'happiness index' - which this article ties together indirectly.

 

http://www.ozy.com/flashback/costa-rica-we-dont-need-no-stinking-army/31153.article

http://www.happyplanetindex.org/data/

 

there are so many things in our culture that place us far below Costa Rica in the happiness index. They are at @ #1 at 64 HPI and USA is way down at 37.3 Being the world's policeman places a lot of stress on us in so many ways. Just listening to the evening news is stress enough and much of the world's major stress issues we are involved with in some degree

[BigRedBuster]

 

 

Ummmm.... why aren't any of these articles mentioning the elephant in the room - defense spending? Focusing the tax increases on Obamacare's influence alone ignores about 60% of the national budget, right?

 

 

It would be nice to be able to do this but I don't think we ever could.

 

No military

 

Would be nice but most have someone protecting them in some way. Costa Rica for example has the USA to protect it, Iceland has NATO, etc. But Costa Rica also leads the world in the 'happiness index' - which this article ties together indirectly.

 

http://www.ozy.com/flashback/costa-rica-we-dont-need-no-stinking-army/31153.article

http://www.happyplanetindex.org/data/

 

there are so many things in our culture that place us far below Costa Rica in the happiness index. They are at @ #1 at 64 HPI and USA is way down at 37.3 Being the world's policeman places a lot of stress on us in so many ways. Just listening to the evening news is stress enough and much of the world's major stress issues we are involved with in some degree

 

I wonder how many Costa Rican's watch or listen to 24 hour news outlets.

 

I've been to Costa Rica before. It is beautiful. I can see why people are happy there.

[It'sNotAFakeID]

I don't think knapp is saying to completely gut the US of its military. I think knapp is saying that we spend an incredible amount of money on defense, an area a certain group of politicians completely ignore while they lambast the ACA.

[knapplc]

I don't think knapp is saying to completely gut the US of its military. I think knapp is saying that we spend an incredible amount of money on defense, an area a certain group of politicians completely ignore while they lambast the ACA.

[BigRedBuster]

 

I don't think knapp is saying to completely gut the US of its military. I think knapp is saying that we spend an incredible amount of money on defense, an area a certain group of politicians completely ignore while they lambast the ACA.

 

I fully understand that. I was just dreaming of utopia. I was pointing out that some countries are able to do it but I don't see the US ever being able to.

[TGHusker]

 

 

I don't think knapp is saying to completely gut the US of its military. I think knapp is saying that we spend an incredible amount of money on defense, an area a certain group of politicians completely ignore while they lambast the ACA.

 

I fully understand that. I was just dreaming of utopia. I was pointing out that some countries are able to do it but I don't see the US ever being able to.

 

Nope - we have too many enemies trying to be the world's policeman

 

So that brings up another question: What should our role be - during the cold war and after WW2 if we didn't have the military to hold back communism, no one would have held it back. We have taken on that same role wt terrorism.

Should we keep being the policeman and put our nose in everything or should we close bases in Germany, Japan and other 'safe places' and keep bases only in hot spots - Korea and Mid East?

 

My thoughts are that Japan and Germany don't need our protection - their economies are strong enough to support their own military & defense ( the same is probably true of S Korea). I would like us cut the budget by looking at what overseas bases we can close. Move those assets back to the USA and incorporate them into our bases and our local economies here.

[BigRedBuster]

 

 

 

I don't think knapp is saying to completely gut the US of its military. I think knapp is saying that we spend an incredible amount of money on defense, an area a certain group of politicians completely ignore while they lambast the ACA.

 

I fully understand that. I was just dreaming of utopia. I was pointing out that some countries are able to do it but I don't see the US ever being able to.

 

Nope - we have too many enemies trying to be the world's policeman

 

So that brings up another question: What should our role be - during the cold war and after WW2 if we didn't have the military to hold back communism, no one would have held it back. We have taken on that same role wt terrorism.

Should we keep being the policeman and put our nose in everything or should we close bases in Germany, Japan and other 'safe places' and keep bases only in hot spots - Korea and Mid East?

 

My thoughts are that Japan and Germany don't need our protection - their economies are strong enough to support their own military & defense ( the same is probably true of S Korea). I would like us cut the budget by looking at what overseas bases we can close. Move those assets back to the USA and incorporate them into our bases and our local economies here.

 

I'm going to go a different direction on this. I think we should keep the bases in Japan, Germany and South Korea BECAUSE they are stable safe environments for our military to operate. For instance, I believe Germany has a very important hospital facility that soldiers are treated and processed through before the long trip back home. Korea and Japan probably need to stay there because of China and Korea. They are still in a very safe place.

 

I would close down a ton of facilities in areas of the world. Keep developing capabilities from sea vessels like air craft carriers and stay out of lands where we do nothing but create enemies for simply being there. I have the feeling we have a lot of facilities (over 700 if I remember correctly). Many of those seem to be there for no other reason than....well....we have been there for a long time so why not? Also, if anyone promotes the idea of closing a lot of them, they will be seen as destroying the military.

 

In general, I would like a major pull back from being the world police force. This will probably need to be avery gradual thing so a vacuum isn't created by our absence. I know most Americans think the UN is totally worthless and I have been extremely frustrated with them also over the years. But, if we could some how build them up as the world police and simply aid their efforts, I believe it would help our security long term and be cheaper also with less loss of American lives.

[Dr. Strangelove]

Cutting the military budget is a very tricky proposition. To put it simply, there aren't enough weapons programs to cut anymore to significantly reduce the military budget. The only things left to cut are benefits for soldiers (retirement, medical, individual pay, etc.), which are borderline untouchable. The only political party who would cut the benefits are the democrats, and it would be political suicide to cut anything like that.

 

For the record, I'm in agreement with Knapp on this. But what can be cut from the military that's actually possible?

[Whistlebritches]

But what can be cut from the military that's actually possible?

 

I realize most of the money is already spent but the F35 would be a good place to start. Some reports estimate up to 1 trillion dollars on purchase and maintenance of that project.

[BIGREDIOWAN]

 

But what can be cut from the military that's actually possible?

 

I realize most of the money is already spent but the F35 would be a good place to start. Some reports estimate up to 1 trillion dollars on purchase and maintenance of that project.

 

That project turned into a, "Well we've already spent this much so we might as well.........." situation. That program needs trashed and trashed now, but they won't do that because of how much they've invested into it at this point. I understand that the F-16 was an aging platform, but they could've retrofitted the F-16's with new technology to upgrade them and probably saved money. I don't know much about the situation just going off of what little I've read. I think I've read somewhere that someone said the F-16 was the best fighter jet we've ever had. Can't argue with that comment and I'm pissed they got rid of the air base here in Des Moines to bring in drones.................really!?

 

Of course the American people will be responsible to feed the gov't more money. We are always responsible so I guess I'll just say goodbye to the one pay raise I've gotten in several years because of taxes going up. I love this country, but good god what is happening to it?! Quit being the world police, take care of our own problems here, namely the border issues we have going on, and we'll be better off for it financially and our country will be better off for it. This place is a mess............

[BigRedBuster]

Cutting the military budget is a very tricky proposition. To put it simply, there aren't enough weapons programs to cut anymore to significantly reduce the military budget. The only things left to cut are benefits for soldiers (retirement, medical, individual pay, etc.), which are borderline untouchable. The only political party who would cut the benefits are the democrats, and it would be political suicide to cut anything like that.

 

For the record, I'm in agreement with Knapp on this. But what can be cut from the military that's actually possible?

To significantly cut the military, it would take a complete revamping of the objectives of our military. Right now, we maintain a strong military basically in every possible part of the world. We have over 700 military establishments outside our borders. That is insane. Yes, I am not a military strategist and I'm sure with what we do right now with the military, most of those are well used.

 

However, what if we stop being the world police force? What if we pull back from being heavily involved in every possible thing around the world? I believe we should be able to drastically cut back on the number of these establishments, have a few places around the world we can take care of our aircraft fleet. Maybe increase the air craft fleet and bring most of our military people home from around the world.

This would drastically cut down on the size of the military we need. I would do this not by immediately slashing the troop levels. I would drastically cut back on the numbers we are recruiting. Over time, that would drop back the overall number of military personnel.

 

Yes, the F35 is a screwed up mess. Stop the bleeding and put that money into existing technology that we already have (as long as the military actually needs it.)