The majority of the savings in the new $2.5 trillion spending cut bill introduced by the House Republican Study Committee today come in the form of reducing non-defense discretionary spending to FY 2008 levels through the remainder of 2011, and to 2006 levels from 2012-2021. Combined with eliminating automatic year-to-year inflation adjustments, that nets about $2.29 trillion over ten years.
But there are a lot of smaller cuts in the bill that are notable. Some highlights:
– Reducing the federal workforce by 15 percent through attrition, and eliminating automatic pay increases for the next five years.
– Eliminating all remaining “stimulus” funding. $45 billion
– Privatizing Fannie Mae and Freddie Mac. $30 billion
– Prohibiting any funding of the implementation — or legal defense — of Obamacare.
– Cutting the federal travel budget in half. $7.5 billion annually
– Cutting the federal vehicle budget by 20 percent. $600 million annually
– Eliminating the Corporation for Public Broadcasting subsidy. $445 million annually
– Eliminating Amtrak subsidies. $1.565 billion annually
– Repealing Title X Family Planning. $318 million annually
– Repealing the Davis-Bacon Act (which sets “prevailing wages” for workers on federal projects). $1 billion-plus annually
– Prohibiting taxpayer funded union activities by federal employees. $1.2 billion savings over ten years
And much more in there beside.
This is a good start. But why is defense and homeland security spending off the table? Are there no wasteful, unnecessary or duplicative DOD or DHS programs? If the GOP thinks DOD or DHS are completely efficient and don't waste taxpayer dollars it hasn't looked very far.
If the Republicans are scared that they'd take political heat for "cutting defense" then this plan isn't as bold as they think it is; it's not very bold at all.
Reply to this commentLinkReport AbuseIt is indeed a good start. We must get people -- congresspeople and citizens -- accustomed to the habit of seeing meaningful cuts not leading to the world coming to an end.
Reply to this commentLinkReport AbuseI agree, this is a good start, but there is tremendous room for improvement. Personally, I think the whole DHS is duplicative. It is a mystery why we needed an entirely new agency to facilitate cooperation between NSA, CIA and FBI.
Reply to this commentLinkReport AbuseIt is essentially cosmetic. I don't think they know -and most Americans - what will expect them.
Reply to this commentLinkReport AbuseOnly when they see the current economy is the "normal".
Most Western World Governments needs to have 0(zero) deficit for years.
I hope forever.
Love them Full speed ahead!
Reply to this commentLinkReport AbuseRepealing Davis-Bacon -- brilliant. Faster, please.
Reply to this commentLinkReport AbuseNOT enough,
Not quick enough
Not BIG enough
Aren't we facing an economic "Armageddon" in March?
Aren't we at a tipping point in a crisis?
If this is the best we've got,(and it's for over TEN YEARS?) you can bet your bottom yuan that the Debt Limit is going up, up, up!
Time for the Tea Party to morph - Something like the TSea Party. (pronounced Sea Party, the "T" is silent - like in tsunami: Taxed and Spent enough already)
Reply to this commentLinkReport AbuseBOOYAH!
Hack and slash baby!
Reply to this commentLinkReport AbuseCan anyone tell me what is -
Eliminate death gratuity for Members of Congress.
Death gratuity for member of Congress?
Reply to this commentLinkReport AbuseThe Federal Gvt. budget can be cut even more. There is so much waste. Stop all funding to States that give money away to illegals. In California alone, we spend 20 billion per year on illegals' welfare, medical, education, food stamps, housing. They have more benefits than hard working Americans. This is coming to you from a family that immigrated legally! We did everything that was required by L A W.! Every politician is afraid to look at the Bull in the middle of the china shop. The Bull meaning illegals! Stop the political correctness !!! Congress, think about your grandchildren ! You would rather be PC rather than protect the well being of your constituents and family. Cowards!
Reply to this commentLinkReport AbuseThe death gratuity is one year's salary paid to the family of a Rep or Senator who dies in office.
Reply to this commentLinkReport AbuseWe already have a Department of Homeland Security. It's called The United States Marine Corps...and their brothers in arms on land, at sea, and in the air!
As for DoD cuts, they've taken quite a few under Gates since Obama was elected...mostly through weapon system cancelations and reductions in modernization, new ships/aircraft, etc. Going back to the 2008 baseline probably means a net increase in Defense spending. NASA Constellation also falls into that bucket I think.
As a former AF officer, I think there is a lot more room on Defense to combat the "culture of dependency" that has taken root. 42 year old retirees should not collect retirement pay until SS retirement age, for example. General Officers should be barred from contracting for at least 2-3 years. And any program currently in Nunn-McCurdy, or on a 75% probability trajectory of a N-M breech should be terminated. Increase DCMA audits of contracts under $10M where a lot of small-time corruption takes place.
There should be no unions permitted in DoD. If taxpayers pay their salaries, and salaries pay dues, then taxpayers are funding the unions. Its legalized money laundering. Uniformed military, rightly, does not unionize. DoD civilians should be barred as well. If the union means that much to you, go join the Post Office.
Reply to this commentLinkReport AbuseHokkoda even the USPostal service now hires only contract workers so they can escape the damage done by Unions - love it!
Reply to this commentLinkReport AbuseWish they would have touched on both defense, veterans, homeland security too.
Reply to this commentLinkReport Abuse@JD: Lol, I did not know that...no wonder UPS is rent seeking!
Thanks for keeping me straight, how about "tell them to go work for GM?". Might as well keep it to government jobs. ha.
Reply to this commentLinkReport AbuseTwo Points:
1. Yes, they can cut more. You can ALWAYS cut more. But you have to start somewhere.
2. DHS isn't redundant. It moved agencies out of the Treasury Department that never should've been there in the first place into an agency concerned with security. No new agencies were added.
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