Your stabilize the_debt_results

361 views

Published on

test upload of pdf files for viewing by the whole class.

Published in: Education, Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
361
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Your stabilize the_debt_results

  1. 1. Congratulations!You reduced the debt to below 60% of GDP in 2018, and kept it at a sustainable levelthrough 2030. Dollars in Billions that you need to cut to get under 60% of the GDP by 2018. $0 See your list of choices on page 2.
  2. 2. CRFB.org Stabilize the Debt Simulator: Your choices in blue.Choose Your Path Defense, Diplomacy & SecurityIraq and Afghanistan Enact Administrations Proposed -$30BReduce Troops to 60,000 by 2015 -$690B Weapon System CutsReduce Troops to 30,000 by 2013 -$1,030B Foreign AidMaintain Current Funding Levels $0 Cut Foreign Economic Aid in Half -$110B Increase Foreign Economic Aid by 50% $110B2001/2003 Tax CutsRenew All the Tax Cuts $3,400B Veterans BenefitsRenew the Tax Cuts on Income Below $2,730B Reduce Veterans Income Security -$50B$250k/200k BenefitsRenew Tax Cuts Available at Lower $1,530B Expand Veterans Income Security $30BIncomes and Continue AMT and BenefitsEstate Tax at 2009 Levels Cancel Missile Defense System -$50BAllow All the Tax Cuts, Except for $490B Reduce Spending on Ship Building -$50BAMT Patches, to Expire Increase Homeland Security Spending $50BDiscretionary Spending Growth Troop LevelsGrow Regular Discretionary Spending $1,290B Increase Number of Troops by 46,000 $70Bwith GDP Reverse Grow the Army Initiative -$90BAdopt the Discretionary Spending $680BGrowth Rates in the Presidents BudgetGrow Regular Discretionary Spending $0with Inflation
  3. 3. CRFB.org Stabilize the Debt Simulator: Your choices in blue.Domestic Social & Economic Spending Social SecurityCancel Unobligated ARRA Funds -$190B Raise the Normal Retirement Age to 68 -$110BEnact New Jobs Bill $100B Slow Initial Benefit GrowthHighway Funding Gradually Reduce Scheduled Benefits (by -$100BDecrease Highway Funding by 25% -$200B 30% in 2080)Increase Highway Funding by 25% $200B Progressively Reduce Benefits, Protecting -$80B Low EarnersFreeze Average Unemployment Benefits at -$50B2009 Levels Progressively Reduce Benefits, Protecting -$60B Low and Medium EarnersCut Temporary Assistance to Needy Families -$50B(TANF) Program Use An Alternate Measure of Inflation for -$100B COLAsCut Federal Funding of K-12 Education by 25% -$60B Reduce Spousal Benefits from 50% to 33% -$20BEliminate the New Markets Tax Credit -$40B Increase Years Used to Calculate Benefits -$40BCut School Breakfast Programs -$30B Include all New State and Local Workers -$80BDouble Funding on Adoption and Foster Care $70B Institute a Minimum Benefit $130BIncrease Funding for the Education of $290BDisadvantaged and Disabled Children
  4. 4. CRFB.org Stabilize the Debt Simulator: Your choices in blue.Healthcare Other SpendingModify Health Care Reform Law Eliminate Certain Outdated Programs -$40BExpand Coverage to an Additional 5 Million $130B Freeze Federal Civilian Pay for Two Years -$50BPeople Reduce Generosity of TRICARE -$50BReduce Insurance Subsidies by 20% -$160B Reform Federal Retiree Benefits -$30BRepeal Entire Legislation $160B Cancel NASA Missions to the Moon and Mars -$40BRepeal Legislation, but Keep -$260B Reduce Farm Subsidies -$80BMedicare/Medicaid Cuts Expand Spending on Federal Research & $100BIncrease Cost-Sharing for Medicare -$100B DevelopmentRaise Medicare Premiums to 35% of Costs -$140B Cut All Earmarks and Use Half of Savings for -$80BEstablish a Public Option in the Health -$40B Deficit ReductionExchange Increase Mass Transit Funding $60BEnact Medical Malpractice Reform -$50BIncrease the Medicare Retirement Age to 67 -$80BReplace Traditional Medicare with Insurance -$120BVouchersModify Federal Medicaid Funding to StatesReduce Funding, Removing Floor on Matches -$130BIncrease Average Matches from 57% to 60% $140B
  5. 5. CRFB.org Stabilize the Debt Simulator: Your choices in blue.Revenue Tax ExpendituresIncrease User Fees Across the Board -$40B Tax Fringe Benefits as Regular Income -$70BSell Certain Government Assets -$70B Limit Mortgage Interest and Other Itemized -$250BImpose Financial Crisis Responsibility Fee -$80B Deductions for High EarnersRepeal LIFO Accounting Methods and -$90B Curtail State and Local Tax Deduction -$470BEliminate Oil and Gas Preferences in Tax Code Eliminate Life Insurance Tax Benefits -$220BEnact Carbon Tax or Cap-and-Trade -$330B Eliminate Subsidies for Biofuels -$110BIncrease Gas Tax by 10 Cents per Gallon -$80B Make Research & Development Tax Credit $80BEnact Five Percent VAT With Partial Rebate -$630B PermanentGradually Increase Dependent Exemption by $190B Extend $400/person Making Work Pay Credit $400B$3,500 Cut the Earned Income Tax Credit (EITC) -$70BImpose Surtax on Income above $1 million -$190B Expand the EITC and Child Tax Credit $90BGradually Increase Payroll Tax by One -$130B Extend American Opportunity College Tax $60BPercentage Point CreditRaise Social Security Payroll Tax Cap Tax Treatment of Employer Sponsored Health InsuranceRaise Cap to Cover 90% of Earnings -$420B Begin Excise Tax on High-Cost Plans in 2013 -$110BInstitute Two Percent Surtax on Earnings -$190B Instead of 2018Above Cap Repeal Excise Tax on High-Cost Plans $10BReduce Corporate Tax Rate to 30% $270B Replace Employer Health Care Exclusion with -$340BIndex Tax Code to Alternate Measure of -$90B a Flat Credit (In Place of Excise Tax)InflationImprove Tax Collection (Reduce Tax Gap) -$20B

×