Expert answer:Federal Budget Activity

Expert answer:Week 2 Assignment: Federal Budget ActivityThis week we learned about how laws get made by the legislative branch of our government. One of the biggest laws that regularly gets made by Congress is the Federal Budget.. The Federal Budget is a law that spells out how the government will spend its money. This is a huge power that Congress has that is often called, “The Power of the Purse.” If the Congress doesn’t give the government money to do something in the Budget, the government won’t have the resources do what it might want to do.In at least 500 words answer the following questions:Provide a justification of the budget choices you made within one of the following categories: Defense, Domestic, Social Security, Healthcare (you may NOT choose to focus on the categories labeled: “Budget Path,” “Other,” “Revenue,” or “Tax Expenditures”). In this defense you must address possible counter arguments to the budget decisions you made. If you are spending more under this category how are you going to get new revenue or gain public support for more deficit spending? If you are cutting funds – what are you going to do with these surplus funds?Discuss how this assignment impacted your understanding of the budget process, and the debates between the parties and within Congress have regarding the federal budget? Do you think anything should be done to streamline the current budget process?Discuss how difficult this would have been to do this activity as a group project – what budget issues would have been contentious? How could you have come to a compromise?*Don’t forget to upload your pdf file of the budget as well as the text of your essay in your assignment submission. Both parts of this assignment at once must be submitted for grading.Please note: APA formatting and citations rules apply to this and all essays in this course.As with all weekly written assignments, submit your work as an attached file. Double-space your paper and use 12 point Times New Roman as your font.Please view the attachment of my budget results
debtfixer___committee_for_a_responsible_federal_budget.pdf

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12/18/2017
Debtfixer | Committee for a Responsible Federal Budget
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Defense
End the Wars in Iraq and Afghanistan
Slow Development of New Weapons Systems
Reduce the U.S. Navy Fleet from 272 to 230 Ships
Allow Veterans to See Any Doctor Outside of the VA
Reduce The Number of Military Personnel
in billions
$690B 
$60B 
$110B 
$560B 
$50B 
Education, Infrastructure, and Research
Replace Current Student Loan Subsidies with Income-Based Repayment
$160B 
Social Security
Progressively Slow Bene t Growth, Protecting Low and Middle Earners
Raise Payroll Tax Rate by 1%
$50B 
$440B 
Health Care
Establish a Public Option in the Health Exchanges
$170B 
Reduce Prescription Drug Costs
$220B 
Allow Private Plans to Compete with Medicare
$220B 
http://www.crfb.org/debtfixer/#step9
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12/18/2017
Debtfixer | Committee for a Responsible Federal Budget
Other Domestic Spending
in billions
Provide a Pathway to Citizenship for Undocumented Immigrants
$110B 
Eliminate the Community Development and Community Service Block Grants
$40B 
$190B 
Reduce the Cost of the Federal Workforce
Individual Income Tax
Enact a 30% Minimum Tax (“Bu ett Rule”) For High Earners
$80B 
Establish a Floor on Giving for the Charitable Deduction
$260B 
Replace the “Cadillac Tax” with a Cap on the Health Insurance Tax Exclusion
$350B 
Other Taxes
Increase Taxation of Foreign-Earned Income
$440B 
Enact a Value-Added Tax and Partial Rebate
$1160B 
Increase Cigarette and Alcohol Taxes
$170B 
Debt as Percentage of GDP
70%
2027
64%
2050
Savings relative to current law (billions) $
http://www.crfb.org/debtfixer/#step9
5090
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12/18/2017
Debtfixer | Committee for a Responsible Federal Budget
Your Savings
350
Defense
160
Investments
1170
Social Security
610
Health Care
340
Domestic
690
Income Tax
1770
Other Taxes
http://www.crfb.org/debtfixer/#step9
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