How would you spend your country's budget?

Question

I challenge the politicians, economists, activists, and anyone with a serious opinion to debate this one. Formulas and equations to balance the whole country's budget are welcome as well.

I'm disappointed 6 days and only 6 answers?

Answer 1

Put a end to everything Bush has done!! Actually, it would be the fourth largest deficit of all time. Here’s the top five:

1. 2004 (George W. Bush) $413 billion
2. 2003 (George W. Bush) $378 billion
3. 2005 (George W. Bush) $318 billion
4. 2006 (George W. Bush) $296 billion (projected)
5. 1992 (George H. W. Bush) $290 billion

When President Bush came into office, he inherited a surplus of $284 Billion. At that time, the Bush administration predicted a $516 billion surplus for 2006.

The fact that Bush now considers a $296 billion deficit an occasion to celebrate shows how far we’ve fallen. The Bureau of the Public Debt divides the national debt into two main categories: debt held by the public, and intragovernmental holdings. Intragovernmental debt includes money for government trust funds, such as pension plans and the debt for social security, which is about $1.7 trillion as of May 2005. Overall, intragovernmental holdings account for over $3.1 trillion of the total debt at this time.

The remaining $4.6 trillion or so has been purchased by the public, including foreign entities. This largely comes from the issuance of U.S. Treasury securities. Nearly half ($2.2 trillion) is composed of Treasury notes (aka T-notes), while T-bills and T-bonds (including savings bonds) cover most of the remaining public portion of the debt. Bonds sold for infrastructure projects are also part of the national debt.

It is common for individual Americans and businesses to buy bonds and other securities, though much of the debt is now held overseas. At the end of 2004, foreign holdings of Treasury debt were $1.886 trillion, which was 44% of the total debt held by the public. Foreign central banks owned 64% of the Federal debt held by foreign residents; private investors owned nearly all the rest (figures are from the Analytical Perspectives of the 2006 U.S. Budget, page 257).

The country holding by far the most debt is Japan which held $639 billion at the end of April 2006. In recent years the People's Republic of China has also become a major holder of Treasury debt, holding $323.5 billion at that time.Recently, Professor Laurence Kotlikoff (working for the Federal Reserve Bank of St Louis), argued the United States is heading for bankruptcy. His paper's extraordinary claim contends that the ballooning annual budget deficits (in combination with expected annual inceases in Social Security and Medicare benefits) could send the U.S. Government into financial insolvency. According to his analysis, "the U.S. government is, indeed, bankrupt, insofar as it will be unable to pay its creditors, who, in this context, are current and future generations to whom it has explicitly or implicitly promised future net payments of various kinds.# U.S. public debt on 30 December 2005 was $8,170 billion (or $8.1 trillion) [14], which is nearly six times the amount of United States currency in circulation (M1 Money Supply), estimated to be $1,372 billion.http://en.wikipedia.org/wiki/U.S._public_debt WE ARE IN BIG TROUBLE AND BUSH NEEDS TO BE STOPED ! WAKE UP AMERICA OUR GREAT COUNTRY IS BROKE DUE TO THE WAY BUSH HAS RUN THIS COUNTRY AND THAT IS FACT !!!

Answer 2

I would spend most of it educating the ignorant masses in order to stop them from electing the ignorant.

Answer 3

Eliminate duplicate spending
Downsize appropriately
Reduce salaries, benefits by at least 15% or more.

Answer 4

Use it on education and health. Not to fund for war.

Answer 5

STOP SQUANDERING & PUT ALL STATE APPROPRIATED FUNDS OUT THERE ALSO KEEP A RAINY DAY POLICY NEVER KNOW WHEN$$ IS NEEDED

Answer 6

no I am not president.