What is the best way to eliminate budget deficit?

Question

...in the US?

Answer 1

Balance the budget and cut spending.

Answer 2

1) Remove all automatic increases in all government programs 2) Create a 1 million dollar income tax bracket. All income over 1 million dollars to be taxed at: 90% or greater. Current tax brackets would remain the same. 3) Require welfare participants to be actively searching for work AND/OR in a job training program 4) Close all foreign military bases. the US Military is for DEFENSE only of the sovereign territory of the USA. 5) Regulate prices on pharmaceuticals, doctor office visits, hospital stays, and medical procedures. 6) Abolish the U.S. Department of Education. Education should regulated by local school boards. this is a monetary waste. 7) Eliminate the National Endowment of the Arts. More wasteful spending 8) Abolish the Federal Reserve. Put the power of money creation and the regulating of the value of currency back into the hands of the people...Congress 9) Require ALL Congressional Legislation to be based on ONE single issue. No more unrelated legislative amendments for pork or other political favors. 10) Limit Political Contributions to $1000 per individual and/or corporation 11) Remove Non-Profit status of political lobbyists and other politicized organizations 12) Require all government personnel to be under the rule of law in the same manner and in every way that the average citizen is under the rule of law. No more exemptions of any kind. 13) Abolish fractional reserve banking. Banks must have 10 percent of assets in cash on hand 14) Food stamps should be manufactured and distributed by the US Government itself, not a private bank (as it is now). Non budgetary issues: 10) Abolish the Presidential War Powers Act. Only the people through Congress should have the power to make war. I can only think of one exception, and that is in a "defensive" situation on the sovereign territory of the USA. 11) Abolish the 17th Amendment. Senate should be the voice of the respective states, not the people. The people's voice is the House of Representatives which has the power of the pocket book. That's just a start. I can think of more It would take a WHOLE book for justification and problem analysis of each. Sorry Of course, much of this is not listed as Presidential powers in the Constitution. But the President could push these into the Legislative branch.

Answer 3

Government economists can estimate within, say, $200 billion or less just how much tax receipts will be during next fiscal year. So, Congress can just no-kidding cut spending until they have a budget that will balance according to those projections, and the President can sign that budget into law. It should be easy too, since when Hell freezes over, federal buildings won't have to spend money on air conditioning.

Answer 4

Cut all non-essential gov't spending.

At the federal level, non-essential gov't spending is for anything outside national defense, federal judiciary/penal system, regulating commerce between the states and handling international relations. Notice how all the federal gov't welfare programs fall out (namely because they were enacted outside one of the enumerated powers).

Answer 5

Stop spending more money that comes in.

Loaning out to other countries that we know will never pay is also a really stupid idea but HEY welcome to America !!

Answer 6

Stop spending money like it grows on trees.
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