National Deficit Control:You Vote On Budget Cuts
By Ashley Jones on May 15, 2010, 8:58 pm Posted in Finance NewsRepublican Whip Eric Cantor of Virginia described this initiative as “a first-of-its-kind initiative to address the culture of spending in Washington.” Others are saying that it isn’t so. While the numbers presented on their website are a little confusing, if you read closely, it will come to make more sense.
What The Whip Has Whipped Up
Their website may be found here: http://republicanwhip.house.gov/YouCut/, and according to them this is a first of a kind government location. You will have 5 issues that are up for decision, at this time the issues are: The presidential election fund, Taxpayer subsidized union activities, HUD doctoral dissertation program, Non-reformed welfare programs, or take CDBG from the wealthier communities.
On their site they give a simplified version of each program, and display an amount of how much the cut would save. The explanation of the program is in terms that the average individual can understand, and voting can be done from a cell phone. Do notice though, that the total savings on most of these programs listed right now are over a 5 year period. They also have an area to suggest future cuts in spending, if they will only listen…
There’s The Pros Here’s The Cons
$3.2 billion will be realized from these cuts right away, and then a $5.9 billion down the road, and while these numbers are impressive, the deficit goes up by $9.5 billion dollars every day. In the long run we are going to need a lot more of these types of cuts. Some would like to keep some of these programs though, and others that say that the results coming from a fiasco of this type cannot be reliable. I voted on my favorites in the bunch, if for nothing else, just to say I participated. I will maintain a watch on this little project a provide periodic updates to my readers.
Related posts:
- Unemployment Economics: They’re Considering Cutting Food Stamps Again
- California Gov.Schwarzenegger: Let’s Cut Welfare and Child Insurance
- Unemployment Extension:The Worst Possibility-But There Is Hope
- Unemployment And Economics: The Wealthy Save Their Tax Cuts
- Tier V Unemployment: No COBRA, Unemployment, Remittance GOP In Pledge
