Instructions Attached
discussionAPA Format250 words
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· Due on February 10, 2021 Wednesday @7pm EST
· Minimum 250 words
· Minimum of 1 scholarly source (in addition to the textbook)
· APA Format
Initial Post Instructions
You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Submit your recommendations and your reasoning for such recommendations using these guidelines:
– Use evidence (cite sources) to support your recommendations from assigned readings or online lessons,
and at least one outside scholarly source.
– Use the format provided below to present your numbers and totals followed by an explanation below the chart.
– Please note that these are not true US budget numbers but are reasonable hypothetical numbers to help us consider the budget processes complexities.
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DOMESTIC PROGRAMS AND FOREIGN AID
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Cut some foreign aid to African countries
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$17 billion
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Eliminate farm subsidies
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$14 billion
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Cut pay of civilian federal workers by 5 percent
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$14 billion
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Reduce the overall federal workforce by 10%
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$12 billion
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Cut aid to states by 5%
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$29 billion
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MILITARY
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Cut the number of nuclear warheads, and end the “Star Wars” missile defense program
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$19 billion
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Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
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$25 billion
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Cancel or delay some weapons programs
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$19 billion
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HEALTHCARE
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Enact medical malpractice reform by reducing the chances of large malpractice verdicts
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$ 8 billion
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Increase the Medicare eligibility age to 68
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$ 8 billion
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Raise the Social Security retirement age to 68.
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$ 13 billion
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EXISTING TAXES
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Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed.
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$ 50 billion
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End tax cuts for income above $250,000 a year
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$ 54 billion
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End tax cuts for income below $250,000 a year
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$ 172 billion
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Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare.
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$ 50 billion
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NEW TAXES
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Institute a Millionaire’s tax on income above $1 million
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$ 50 billion
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Add a national 5% sales tax
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$ 41 billion
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Add a tax on carbon emissions
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$ 40 billion
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Tax banks based on their sizes and the amount of risk they take.
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$ 73 billion
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Total gap covered by your budget plan
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$_________________
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The budget year begins on 1st of october and runs through September 30th, but the actual planning begins in February of each year, when the President submits a budget proposal to Congress for approval. “This proposal is based on the President’s priorities and what he/she believes will pass in Congress. Once the plan is made public, many interests will scrutinize this proposal to see where spending will take place” (Week 6 Lesson, 2021).
According to the Foundation for Economic Education, “the most dangerous domestic problem facing America’s federal government is the rapid growth of its budget deficit and national debt (2019). My biggest cut is perhaps the from the military budget. Budget for military in the US is huge and larger than all US allies combined and are mostly for remnants of World War II, Korea, and Cold War. These countries include Japan, Korea, and Western Europe, as well as many of the world’s largest economies, who are capable of protecting their own interest (Washington Post, n.d.). This will continue to increase economic distress, as the government will either have to impose higher taxes or reduce future spending, as raising taxes further contributes to slowing down of economic growth (FEE, 2019). For Social Security, congress should raise the retirement age, convert federal aid to grants on Medicaid and Medicare, in order to cut federal spending and encourage state innovation, and reduction in cost. Congress should cut subsidies for other spending by cutting food subsidies, farm subsidies, energy and housing subsidies, and others like rural, development, K-12, college, welfare, disaster, security, community, developer, water, grazing, unemployment, training, highway, transit, airport, rail, worker, foreign aid, business, flood, power subsidies, and more (FEE, 2019). Not that these things aren’t important, but there’s little oversight which lets corruption go unnoticed. For department of defense for instance, contractors are aware that there’s a lot of money, which makes them overcharge on supplies, materials, workforce, administrative overhead, unreasonable other expenses (Washington Post. n.d.).
Textbook: Whitman Cobb, W. N. (2020). Political science today (1st ed.). Washington, DC: Sage, CQ Press.
The US Budget
In February of each year, the President submits a budget proposal to Congress for approval. This proposal is based on the President’s priorities and what he/she believes will pass in Congress. Once the plan is made public, many interests will scrutinize this proposal to see where spending will take place.
The next step is for Congress to consider the President’s proposal. Congress can approve or disapprove the budget items and they can add or subtract from the President’s proposal as they see fit. This phase of the budget is very complex as it must pass through several Congressional committees before receiving a full house vote. Budgets are generally initiated in the US House of Representatives while the US Senate is seen as a source of review to ensure equity. The President must approve the final budget legislation after it passes both Houses, preferably before the beginning of the new fiscal year in October. In recent years, Congress and presidents have struggled with this process and temporary legislation or continuing resolutions have had to be enacted to allow the government to continue operation. Government shutdowns or partial shutdowns have affected the economy negatively and caused anxiety among workers in regards to their paychecks.
