Wednesday, January 26, 2011

Can you solve the budget deficits

Last night we heard President Obama talk about fixing the government deficit. He focused on freezing all discretionary government spending for five years. This sounds great, unfortunately discretionary spending only amounts to 12% of the entire budget. This will hardly dent the long-run budget concerns. We need to change social security and medicare. I know elderly citizens are entitled to these programs, but most of them paid into the programs when life expectancies were a lot lower and health care prices much cheaper. We need to pin retirement age to life expectancies. As life expectancies increase, retirement age increases.

Think you can solve the government's budget deficit. Give it a try by going here.

Notice the biggest saving comes from increasing medicare and social security age and by removing the tax benefits employers receive by providing employees health care.

Sidebar: Have you ever wondered why employers provide health care? Well they can offer you health care and it comes tax free. Why not give workers the income they have earned and let them decide which health care program best suits their needs. It would save $150 billion over the next 20 years.

Here's my budget fix. 

1 comment:

  1. It’s very interesting to read this; I believe we must be very careful with things like these before we work. I do Forex trading and I always keep myself updated with the happening and always keep it all straight forward. I find it incredibly good with broker like OctaFX which too is world class having small spread from almost nothing (0.1 pips) while there are over 70 instruments to select from with many more benefits available too, it’s simply phenomenal.