Trump to cut $10.5 trillion government spending

Saving $10.5 trillion on government spending? Wow, that’s $100k savings per tax payer. There are 122 million federal tax payers in USA, most of them pay a very small amount a year.

Considering most of the country has home price around $100k, Trump is giving a free house to every one.

This number is astonishing. I did not know that our government has this much fat to cut.

If he can achieve even 10% of this savings goal, he would have no problem to win re-election.

How will he grow the GDP if he removes 10.5 trillion from the economy?

Average US salary = $50k. He’s cutting the equivalent of 20 million jobs.

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It’s not necessarily a large federal job cut. There are 2.6M federal employees. If he cut federal budget by 25% and cut the federal employees by 25% also, it’s only 600k job loss.

Saved government spending won’t disappear. It just goes to the people’s private pocket from wasted government hand. Those money in private businesses and citizens will create many more jobs than the mere 600k lost in government. As you calculated, the savings could create 20M jobs after a 600k government job loss.

Of course it’s not all federal jobs, but it’s mostly domestic spending that comes out of the economy. You said yourself most people don’t pay much income tax. Those people are spending every dollar they earn (even from “wasted” government spending). So who benefits from tax cuts? Upper middle class to rich people who will only spend a fraction of the savings.

I got my stimulus check back in the day. Went into my savings account for retirement. Did not stimulate economy at all.

Sorry, I don’t believe in supply side trickle down mumbo jumbo

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Did Trump say where he will cut $10T? Of course not. I am still waiting for his magical Obamacare replacement plan.

Our GDP is around 16 or 17T a year. $10T over 10 years means 1T a year. That’s over 6% of our GDP. In the depth of the last Great Recession, GDP shrank less than 1% in 2008. And that was already one of the deepest recession in modern times. So cutting $1T from the economy will result in one of the biggest recessions.

That will do wonders to his (un)popularity.

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I believe this tax cut and $10.5 trillion budget cut will work out wonders after wonders for this country. A smaller government and reduced regulation will stimulate the economy greatly. A low corporate tax will make the businesses creating jobs like rabbits.

Many people will be able to get out of the welfare trap and earn a living for their family. They will become proud of themselves and the crime will go down.

Only question is whether and how fast he can accomplish this.

These goals are really really good. Let’s hope he will achieve it.

Good luck, America! Good luck to all of you as well!

The departments of Commerce and Energy would see major reductions in funding, with programs under their jurisdiction either being eliminated or transferred to other agencies. The departments of Transportation, Justice and State would see significant cuts and program eliminations.

The Corporation for Public Broadcasting would be privatized, while the National Endowment for the Arts and National Endowment for the Humanities would be eliminated entirely.

Overall, the blueprint being used by Trump’s team would reduce federal spending by $10.5 trillion over 10 years.

  1. CPB will be privatized

The Corporation for Public Broadcasting (CPB) is an American non-profit corporation created by an act of the United States Congress and funded by the United States federal government to promote and help support public broadcasting.[1]

CPB’s mission is to ensure universal access to non-commercial, high-quality content and telecommunications services. It does so by distributing more than 70% of its funding to more than 1,400 locally owned public radio and television stations.[2]

The CPB is governed by a board of directors consisting of nine members. They are selected by the President of the United States, confirmed by the Senate, and serve six-year terms. As of May 2015, the board was composed of four Republicans and four Democrats.

  1. National Endowment for the Arts will be eliminated

The National Endowment for the Arts (NEA) is an independent agency of the United States federal government that offers support and funding for projects exhibiting artistic excellence.

  1. National Endowment for the Humanities will be eliminated

The National Endowment for the Humanities (NEH) is an independent federal agency of the U.S. government, established by the National Foundation on the Arts and the Humanities Act of 1965 (Pub.L. 89–209), dedicated to supporting research, education, preservation, and public programs in the humanities.

Nothing on reducing the global police force?

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What does America First mean? He asks people to protect America first. The role of global police will be weakened.

This is just one organization.

It drive me nuts when people say the problem is lack of tax revenue. The government literally has trillions a year and wastes hundreds of billions. Let’s start with cutting waste.

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Washington D.C. home price bucked national trend during the great recession when Obama took office.

A good way to make money: buy D.C. houses and apartments when a Democratic president is elected. Obama’s election and his government has contributed tremendously to DC economy. When Obama wastes $500 billions, your D.C. house may appreciate $100k.

Isn’t this the same classic example in private industry with regards to budgets and planning? If you heaven’s forbid didn’t spend all of your budget, your next year’s budget max was lowered so there is this incentive to spend all of the allotted money just so that it looks like you really need it or more next year.

Companies are forced to re-evaluate budgets though. You’d be horribly uncompetitive just adding to every product’s budget each year.

Companies has no ability to mandate a tax on its customers. If a private company spends too much, it would be forced to either reduce cost to be profitable or close the door.

Government has the ability to raise tax revenue and there is no consequences for overspending. Government can raise tax, issue debt, print money to create inflation. That’s why government cost control is so crucial since it can easily get out of control with the liberals.

It would be great if Trump can successfully cut $10.5 trillion federal spending.

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If you cut $1trillon a year from the budget you will only have enough money for the military, SS and medicare…
No money for anything else.

Medicare, as well as interest payments on the federal debt. Social Security and labor, Medicare and health programs, and military spending will make up 76 percent of the total budget, leaving just 24 percent, or $957 billion of the $4.1 trillion total, to spend on all other programs.

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Annual social security budget is $1.369 trillion. With 60 million SS recipients, average SS spending per person is $23k. What percentage is wasted in the administration?

Annual medicare budget is $1.1 trillion. With 58 million medicare recipients, average medicare spending per recipient is $19k. Still hospitals say they do not make much money or lose money on medicare patients. Where did the money go?

With SS and Medicare together, we are spending $42k per person. For each elderly couple, that’s $84k SS and medicare spending. USA is super rich and we have too much money to spend!

Is it possible that these $42k per person per year budget was wasted by the administration cost and the real benefit people receive is much less?

Our per capita GDP is only $53k, yet our per capita SS/Medicare spending is $42k for the 20% of the non-working people. Add other government spending per person, the 20% of non-working people will consume more than the per capita GDP.

We need Thiel to run the budgeting for US.

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Of course there is waste…But going after old people’s benefits is political suicide. .Even Trump isn’t that stupid…Well you never know. .Besides he wants to increase military spending and cut taxes…Crazy and stupid… As far as waste…Even if you cut 50% the problem wont be solved…Besides the money will just go to making more ICBMs buried in the ground

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