I’ll give Speaker Boehner credit for showing boldness in cutting the Federal Government and the deficit. In exchange for raising the Debt Ceiling, I mean trillions of dollars in a budget of 3.7T$ in an economy of over 14T$. Wow thats not a truck load of money but a fleet of truck loads of money. Perhaps fleets of truck loads of money. Assuming that this just isn’t talk or hype on the Speaker’s part. I’m wondering how the Speaker proposes to accomplish this. I could definitely see cutting hundreds of billions of dollars from the Federal Budget. Like in defense, Social Insurance reform, Entitlement Reform. Reforming our National Park Service, Corrections Reform, reforming our War on Drugs. Ending Corporate Welfare, ending the Bush Tax Cuts for High Earners. We could be talking here with these reforms of 500B$. But thats a half a trillion, still a truck load of money. But the Speaker didn’t say trillion but trillions plural. Where does he expect to find the money. What is willing to cut or eliminate to accomplish this.
Here are a few issues that would confront the Speaker’s large goal of cutting trillions again plural from the Federal Budget. Defense, Social Security, Medicare combine with Medicaid. Are 700B$ a piece a year. That gets pretty close to 3T$ right there, thats over 70% of the Federal Budget. After that there’s less then a trillion dollars in the Federal Budget. So lets say we eliminate the rest of the Federal Budget. Not including Defense and Entitlements, which will never happen. The Speaker is still under a trillion dollars in Budget Cuts. Remember the Speaker said he wants trillions plural in cuts. For that to be accomplished, you have to take on the big three. Defense, Social Security and Medicare. It can’t happen any other way. The Speaker has already ruled out the Ryan Medicare Reform plan. So now its back to the drawing board for them on Medicare Reform. They’ve shown almost no willingness to make overall Budget Cuts to defense. Nothing on Social Security yet.
I’ll admit I’m having fun with Speaker Boehner’s speech to the Economic Club on Monday. And his goal if you want to call it that. I would call it politics, setting a High Mark for the House GOP. So when they fail to accomplish it, they can still save face. But when a High Ranking official like the Speaker of the House. Comes out with a large goal like that. I think they should at least have some idea on how to accomplish it. Or its just more Washington Politics, something American Voters say they hate.