The paper today had the first brush look at a Congressional study into what it will take to stop spending into a deficit. One of the sponsors said he and the others may have to go into witness protection if it ever gets acted upon. Here are just a couple of their ideas:
- Reduce or eliminate the deduction from income tax the deduction on interest paid for the primary residence. If people think being tipped over on the value of their house was bad before, this will be a final blow to a lot of people.
- Needs testing for Social Security. Those of us that did have the willingness to save for retirement will be told to pay the price for those that didn't.
- Increasing the age for retirement. I guess if Social Security won't have any money, delaying the age for entrance to the retirement pool is probably the answer.
- No Federal Employee raises for five years and a reduction of 10% of the federal workforce size. Yep, more unemployed will fix that problem.
- Only down in the list of things is the cuts needed in spending. Can anyone tell me why we need a Federal Education Department? Why is the CIA not in the Defense Department? Why doe we not have just a Land Force, an Air Force and a Naval Force? Why do we have Marines who have their own Air Force? Why doesn't the Navy and the Coast Guard belong together? I guess if you think this applies why do we have a National Guard and Army Reserve? Air Force Reserve and Air National Guard?
Did you know that the budget Deficit this year will exceed one Trillion Dollars? Next year isn't projected to be much better. In my perfect world, Outgo would be less than or than equal to income. I know, many of you are already yelling NIMBY!