Thisis: http://www.primeronmoney.com/33percentreductioninfedealspending.html
3 steps to achieve a 33% reduction in federal spending
Makes sense to me (mrc)
From -- http://groups.google.com/group/sci.econ/browse_thread/thread/7515026c12a25554?hl=en
"David" posed a question
Here’s how Budget 2009 breaks down
24% - Medicaid and medical services
13% - Interest on the public debt
19% - Social Security
19% - Department of Defense
26% - All other government programs.
What are you gonna cut to get a 33% reduction?
"Unknown" answered
1) Interest ($400B / year) on the national debt -- over 40% of the national debt is owed to the privately owned Federal Reserve System. This portion of the national debt could be cancelled at no cost. This would have the side effect of moving the dollar off a debt standard and allowing the rest of the national debt to be paid off over a five year period. This was last done by President jackson who was the only President to pay off the national debt. - 13% saved
2) Halve the size of the military - another 10% saved.
3) Now cut the budget of all remaining programs by about 12%. This will save the final 10%
Now the income tax can be scrapped. --- and we will be debt-free forever.