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Nov. 30, 2004 As some of you may already be aware, Max Burns and Ken Hughes have been at it over the budget and deficit. Both have some idea of what is entailed in creating a budget or deficit on the National level. However, I thought I might clarify a few issues so you can come to the right conclusions from their respective articles and learn a little more about what is included in the National Budget and thus the deficit. Under the general heading of “income security” in the National Budget are items like; welfare and retirement programs, and unemployment compensation spending. (www.budgetism.org) From the year 2001 there was a $103 Billion dollar loss in revenue from tax cuts, in 2003 those same tax cut saw a loss in revenue of $110 Billion dollars. (www.budgetism.org) In addition to those two tid-bits we also have “tax expenditures” which are more commonly known as tax loopholes. Tax expenditures are paid for by higher taxes in the following year or deficits in past/future budgets. These monies are spent with little political review or accountability. Currently tax expenditures account for nearly $980 Billion dollars, which could give a 50% tax cut across the board to all American’s and still zero out the entire National deficit. (www.budgetism.org) Each year tax expenditures are tabulated by the Congressional Joint Committee on Taxation and the Treasury Department. Typically this amounts to over $2 Trillion dollars in spending per year. (www.budgetism.org) Headings for the actual budget range from; military spending, which does not include this war with Iraq, but does include things like personnel, operations and maintenance, procurement, research & development, testing & evaluation, construction, housing, atomic energy, and all defense related activities- to veterans and military retirement with sub- categories like; retirement benefits, pension & income security, veterans education, training, and rehab, hospital and medical care and housing for veterans. Then we have international affairs which includes items like; international development and military aid and foreign information and exchange activities. Another heading is general space, science, and technology which include the department of homeland security, the national space program, and the department of energy. Non-defense energy spending spearheads the topics of energy conservation, regulation, and preparedness. Other topics or headings range from the natural resources and environment to transportation and agriculture, community and regional development, non-medicare healthcare spending and medicare healthcare spending as all of their sub- categories, education, training, employment and social services, civilian retirement and unemployment, social welfare and social security spending, the administration of justice, administration of the general government, and net interest-if any, etc. The list of topics is nearly endless and there is much duplication to ensure that they, all departments, are adequately covered when over blowing their expenditures. (www.budgetism.org) This same web site that I’ve mentioned in this article allows you to create your own budget, long or short, along with most of the headings used in the real National Budget. You are able to play with and change the amount of taxation, allocations, and expenditures to see how it skews the outcome of the overall budget. At the end it presents you with a graph of how your taxes and expenditures affect the main categories against the reality of the Congressional Budget. It’s actually a little harder than it sounds, but quite interesting all the same and I did manage to cut the budget by $300 some billion dollars while maintaining some of the programs that are really doing some good for the people of America and eliminating some of those that are a little less necessary and border on frivilous. Too bad all members of Congress are not forced to do this simulation to see the gravity of the effects their budgetary items and expenditures have on all of America maybe then they could learn and practice a little budgetary restraint. Reference: www.budgetism.org ------------ About the author: Michelle Malsbury was born and raised in Champaign, Illinois. She attended Parkland College and the University of Illinois before graduating from the University of Phoenix with her degree in Business Management. Currently she is working on her master’s degree in Organizational Management while concurrently pursuing her lofty writing ambitions. Ms. Malsbury moved to south Florida in 1983 and resides between the Keys and Apalachicola, allowing her to experience the seasonal fluctuations between the southernmost and nearly northernmost beauty in the state of Florida. Travels have taken her from Europe through the Caribbean, Central America, Mexico, and across much of the United States. Michelle has been a bartender, real estate agent, flight attendant, beauty contestant, yacht broker, and commodities broker over the years, but writing is her passion. She enjoys outdoor activities like sailing, waterskiing, hiking, bike riding, working out, and fishing as well as reading, music, theatre, playing with her two amusing pets (Abu Chez, her 6 year old Australian Blue Heeler and Zack, her two year old yellow tabby cat) and writing. Michelle is a regular featured author on the web site Useless-Knowledge.com and enjoys exchanging points of view with her comrades there. “Three Years With Adonis” is the first to be published of several books that she has written and will be available early, to mid, 2005. In addition to “Three Years With Adonis”, she has authored four other books and three screenplays while continuing to explore all that life hands her. Email Michelle Malsbury: abuchez@mchsi.com Tell a friend about this site! ------------ All articles are EXCLUSIVE to Useless-Knowledge.com and are not allowed to be posted on other websites. ARTICLE THIEVES WILL BE PROSECUTED! |
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