But here is a strange twist about which I would like to find out more. Link to story..
"... Another $1.5 trillion would be sought this fall by a special committee with unique power to force congressional action. If it fails to reach that goal, spending could be cut by $1.2 trillion automatically, divided equally between defense and domestic programs. "Call me a cynic, but the phrase "special committee with unique power to force congressional action" raises a red flag for Constitutionality issues. I presume those unique powers over Congress will eventually get challenged in court. We'll see how that all turns out.
Here are some things I would do, knowing we are broke.
- Sell major tracts of US owned property up to and including Territories and perhaps States.
- Reduce US military presence in foreign nations by closing most military bases in Germany, Korea, etc.
- End the tax deduction for church contributions. Salvation doesn't need a tax deduction.
- End the tax shelters referred to as private foundations and assign their assets back to the owners.
- End the war on drugs. A monumental waste of money and lives to prop up police employment.
- Promote merging of Municipalities into regional authorities. Does every Mayberry RFD need a mayor, police chief, etc,?
- US mail reduced to 3 days delivery per week. Saves gas and trees and no one will miss it.
- Public Schools convert to 4 day weeks. Immediate 20% drop is busing costs
- Quit using the Navy as a global escort service for ships bringing imports into US.
- Quit subsidizing the production of ethanol and other farm products
We need to grow out of the economic crisis. We can't shrink to prosperity. To grow an economy the most important thing to do is reduce waste and reallocate the resources that were saved somewhere else where they will be more productive in the big picture.