JB99 said:

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rgvag11 said:

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House Republicans release a budget resolution that calls for cutting taxes by up to $4.5 trillion and sets a goal of slashing federal spending by $2 trillion.

The resolution also would raise the debt limit by $4 trillion ahead of a deadline this year. https://t.co/wv2tqTVnpb

— NBC News (@NBCNews) February 13, 2025

I guess we are not getting a balanced budget this year.

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How do you cut spending and raise the debt limit at the same time?

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-4.5t + 2t = 2.5t deficit spending. If you're already at the debt "limit", you gotta raise it higher to print the remaining 2.5t out of thin air. That's how federal math works.

BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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Just cut spending. No need for additional tax cut. Balance the budget.

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If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

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Define large. For most families, it would be like $2k.

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Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

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The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

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If the tax cuts expire I'll pay $290k just in net fed income taxes. How much is enough? That should cover my wife and I for our part of debt. How about the rest of the taxpayers cover theirs?

Go ahead and just mail in an extra $2000.

HunterAggie said:

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TommyBrady said:

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It's entertaining when people seem to forget that no matter who is president the congress will always be corrupt and incompetent. It will never change until it is forced to be changed. We keep electing morons so we keep getting moronic results.

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If we are lucky, some will be caught up in the illegalities and be gone by the Mid-terms because of it.

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Sad thing is we would replace them with idiots again. The average voter is sadly dumb

BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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Just cut spending. No need for additional tax cut. Balance the budget.

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If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

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Define large. For most families, it would be like $2k.

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Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

---

The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

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My pie in the sky wish - after they get rid of the BS with DOGE, they cut every dept remaining 10% per year until they get to a balanced budget, and then have a constitutional amendment requiring the budget to be balanced every year. That still doesn't address the $36 trillion debt, but hopefully you can grow your way out of that and get the overall debt down to a reasonable % of GDP again.

I wish it was that simple.

A. G. Pennypacker said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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Just cut spending. No need for additional tax cut. Balance the budget.

---

If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

---

Define large. For most families, it would be like $2k.

---

Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

---

The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

---

My pie in the sky wish - after they get rid of the BS with DOGE, they cut every dept remaining 10% per year until they get to a balanced budget, and then have a constitutional amendment requiring the budget to be balanced every year. That still doesn't address the $36 trillion debt, but hopefully you can grow your way out of that and get the overall debt down to a reasonable % of GDP again.

I wish it was that simple.

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Add zero baseline budgeting.

A. G. Pennypacker said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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UAS Ag said:

---

BoydCrowder13 said:

---

Just cut spending. No need for additional tax cut. Balance the budget.

---

If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

---

Define large. For most families, it would be like $2k.

---

Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

---

The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

---

My pie in the sky wish - after they get rid of the BS with DOGE, they cut every dept remaining 10% per year until they get to a balanced budget, and then have a constitutional amendment requiring the budget to be balanced every year. That still doesn't address the $36 trillion debt, but hopefully you can grow your way out of that and get the overall debt down to a reasonable % of GDP again.

I wish it was that simple.

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My only wish is a flat tax with zero deductions. They can do whatever they want after that.

Logos Stick said:

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UAS Ag said:

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JFC...

Y'all sound like my kids did on road trips.

20 min into the drive. Are we almost there????????

It's week FOUR of this new administration and Congress, and you want the whole ****ing thing NOWWWWWWWW!!!!!


Step back. Take a breath and remember how you eat an elephant.

One bite at a time.

And this budget resolution wants to take a BIG bite compared to how it's been done in the past...

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I want real cuts THIS YEAR! This proposal has none. The "I'll gladly pay you on Tuesday" crap is over.

Everytime we get a new spending bill or CR, we get the same ole excuse: be patient. Can't do cuts now because ____________ (filll in the blank). But don't worry, cuts are coming.

Same ole tired bull*****

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If the Democrats or GOP want to save their entitlement programs, they are going to have to cut drastically: means test social security indexed to overall income, cut most of higher education spending, reduce some programs by 50% if they want to save them. It's either that or raise taxes on the top earners.
You can play with the numbers here on this Federal Budget Simulator .

A. G. Pennypacker said:

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BoydCrowder13 said:

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UAS Ag said:

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BoydCrowder13 said:

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UAS Ag said:

---

BoydCrowder13 said:

---

Just cut spending. No need for additional tax cut. Balance the budget.

---

If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

---

Define large. For most families, it would be like $2k.

---

Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

---

The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

---

My pie in the sky wish - after they get rid of the BS with DOGE, they cut every dept remaining 10% per year until they get to a balanced budget, and then have a constitutional amendment requiring the budget to be balanced every year. That still doesn't address the $36 trillion debt, but hopefully you can grow your way out of that and get the overall debt down to a reasonable % of GDP again.

I wish it was that simple.

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Unfortunately that is pie in the sky. 10% cut to departments is going to do nothing. Even if you cut all discretionary spending (which includes military) down to $0, we'd still be running a deficit.

Mandatory spending (SS, Medicare, VA, etc) will need to be cut to get to a balanced budget.

The Republican Congressman from Arizona this week had some great graphs to show this. Cut the Department of Education? That is 9 hours of borrowing costs. Cut all foreign aid? 1 week of borrowing costs.

Should we cut spending in these places? Absolutely. But even zeroing them out doesn't move the needle. Cutting spending is going to hurt everyone and you need to know that and be okay with it.

Boyd, the Dept of Education had a $268 billion budget in FY 24.

https://usafacts.org/explainers/what-does-the-us-government-do/agency/us-department-of-education/

BoydCrowder13 said:

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A. G. Pennypacker said:

---

BoydCrowder13 said:

---

UAS Ag said:

---

BoydCrowder13 said:

---

UAS Ag said:

---

BoydCrowder13 said:

---

Just cut spending. No need for additional tax cut. Balance the budget.

---

If they don't extend the 2017 tax cuts, then there will be a LARGE tax increase.

---

Define large. For most families, it would be like $2k.

---

Are you a bazillionaire?

Because there are a **** TON of families that would be hammered with a $2k tax increase.

But, I guess that you wouldn't be affected so it doesn't matter.

---

The debt is over $100k per person (including children). It is on pace to be $50T within 10 years.

I'd rather $2k more in taxes (along with spending cuts) than just keep burying my head in the sand. Short term pain for long term gain.

We either need to gut entitlement spending (which even many on this board oppose) or raise taxes. Probably both. While everything DOGE is doing is great and needed, it is a bandaid at best.

Taxes
Cut entitlement spending
Or continued Inflation

1 of those 3 are happening. Probably 2.

---

My pie in the sky wish - after they get rid of the BS with DOGE, they cut every dept remaining 10% per year until they get to a balanced budget, and then have a constitutional amendment requiring the budget to be balanced every year. That still doesn't address the $36 trillion debt, but hopefully you can grow your way out of that and get the overall debt down to a reasonable % of GDP again.

I wish it was that simple.

---

Unfortunately that is pie in the sky. 10% cut to departments is going to do nothing. Even if you cut all discretionary spending (which includes military) down to $0, we'd still be running a deficit.

Mandatory spending (SS, Medicare, VA, etc) will need to be cut to get to a balanced budget.

The Republican Congressman from Arizona this week had some great graphs to show this. Cut the Department of Education? That is 9 hours of borrowing costs. Cut all foreign aid? 1 week of borrowing costs.

Should we cut spending in these places? Absolutely. But even zeroing them out doesn't move the needle. Cutting spending is going to hurt everyone and you need to know that and be okay with it.

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I was including the mandatory spending in the 10% cuts. We can't afford it.

Social security is easy. You raise the retirement age for those who are not currently receiving benefits. You use a portion of current social security tax to fund current retirees and those under forty whatever is left after funding current ss recipients is left in there private account that they invest how they see fit and can withdraw at the new full retirement age.

BTKAG97 said:

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rgvag11 said:

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waitwhat? said:

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Isn't the $4.5 trillion "tax cut" just a continuation of the 2017 tax cuts?

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I believe so. A 10 year extension.

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If it's an extension of current rates then it's not even a cut. Not shocking. They love playing word games more than they love playing budget games.

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Yep.

Remember that budget "surplus" when Clinton was in office?

Yeah...there was no surplus. But oh how they loved to talk about there being one.

UTExan said:

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Boyd, the Dept of Education had a $268 billion budget in FY 24.

https://usafacts.org/explainers/what-does-the-us-government-do/agency/us-department-of-education/

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A lot of the Department of Education spending comes from Title I and SPED spending. Which were decreed through separate Congressional Acts. That spending (at least SPED) is not going to be overturned by Congress. Even if the Department of Education was closed, that spending would move to another department.

The spending cuts at Education is related to salaries of employees primarily. A much smaller number.

schmellba99 said:

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BTKAG97 said:

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rgvag11 said:

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waitwhat? said:

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Isn't the $4.5 trillion "tax cut" just a continuation of the 2017 tax cuts?

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I believe so. A 10 year extension.

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If it's an extension of current rates then it's not even a cut. Not shocking. They love playing word games more than they love playing budget games.

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Yep.

Remember that budget "surplus" when Clinton was in office?

Yeah...there was no surplus. But oh how they loved to talk about there being one.

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And yet it was the closest the US has gotten to a balance budget in the last 50 years. But yeah, let's call it a loss.

BoydCrowder13 said:

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UTExan said:

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Boyd, the Dept of Education had a $268 billion budget in FY 24.

https://usafacts.org/explainers/what-does-the-us-government-do/agency/us-department-of-education/

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A lot of the Department of Education spending comes from Title I and SPED spending. Which were decreed through separate Congressional Acts. That spending (at least SPED) is not going to be overturned by Congress. Even if the Department of Education was closed, that spending would move to another department.

The spending cuts at Education is related to salaries of employees primarily. A much smaller number.

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Okay, but a lot of their funding is for higher ed student loans. If we get the federal government out of that business and have them use their massive endowments, we save money.

If the house can't cut the budget by the recommended DOGE cuts then we might just need to cross the Rubicon at this point. I'm done with these deep state sellouts.

UAS Ag said:

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Logos Stick said:

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UAS Ag said:

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JFC...

Y'all sound like my kids did on road trips.

20 min into the drive. Are we almost there????????

It's week FOUR of this new administration and Congress, and you want the whole ****ing thing NOWWWWWWWW!!!!!


Step back. Take a breath and remember how you eat an elephant.

One bite at a time.

And this budget resolution wants to take a BIG bite compared to how it's been done in the past...

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I want real cuts THIS YEAR! This proposal has none. The "I'll gladly pay you on Tuesday" crap is over.

Everytime we get a new spending bill or CR, we get the same ole excuse: be patient. Can't do cuts now because ____________ (filll in the blank). But don't worry, cuts are coming.

Same ole tired bull*****

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I want them this year too.

But I live in reality, so I know that with the makeup of Congress, the cuts I want can't happen the way I want them too.

But, keep complaining about things that cannot and willl not happen.

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The reality is we aren't getting any cuts from Congress. They've already told us this with this bill. The only cuts we might get are what Elon can get you within the purview of what Trump can directly affect. And then those all get reversed with the next Dem admin.

Outside of that, we aren't getting jack *****

$200B per year not spent on top of the current pace of adding $1-3T per year is fake news. So by the end of 10 years we will be somewhere in the neighborhood of $50T instead of $52T. Yay!!! WGAS.

Big Finance is now on the train of our debt not even being an issue. From Goldman Sachs last month:

- The level of debt-to-GDP is still comfortably below estimates of the level at which it would become truly unsustainable.
- We do not expect the debt load to be a major burden in the near term.

According to GS, our debt does not become an issue until at least 2050 at which point the debt to GDP ratio hits 172%. And even then they are ho hum about it.

I'm cool with all that. Let me keep more of my money in the mean time. Tax me at 15% and I can better prepare for the coming collapse.

Tom Fox said:

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I'm cool with all that. Let me keep more of my money in the mean time. Tax me at 15% and I can better prepare for the coming collapse.

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I agree which is why I'm for any tax cut I can get. We aren't going to cut spending so I want to keep every dollar I can. We will also just print money if we need it anyway.

YouBet said:

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Tom Fox said:

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I'm cool with all that. Let me keep more of my money in the mean time. Tax me at 15% and I can better prepare for the coming collapse.

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I agree which is why I'm for any tax cut I can get. We aren't going to cut spending so I want to keep every dollar I can. We will also just print money if we need it anyway.

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Yep. Buy physical assets.

$2 Trillion in cuts is very, very good Trump.

Red Fishing Ag93 said:

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$2 Trillion in cuts is very, very good Trump.

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If it's over 10 years then this is spitting into the ocean.

If they finagle $2T in cuts right now that then lowers annual spending by $2T every year going forward then that is exceptional.