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What would you continue to fund once the debt ceiling is reached?

The government pulls in about 200 Billion a month.

Some numbers/ statistics are found at:

http://www.foxnews.com/politics/2011/07/22/debt-to...

My suggestion is:

29 B(Billion) to interest on debt, 50 B social security,50 B medicare/medicaid, 31.7 B + 5.8 B Military Spending and Salaries, 14.7 B Federal Salaries, 3.9 B IRS refunds, and 11 billion to unemployment and welfare office (they would only get half checks, sorry but you're not working and we don't have enough money to pay for it all.)

Total: 196.1

Save the rest for next month just in-case you don't quite get all 200 billion as expected.

Update:

Dave Davis, The federal government has no control over state salaries.

7 Answers

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  • 10 years ago
    Favorite Answer

    Unemployment and medicaid wouldn't need to be funded immediately. The money for those programs is paid in advance to the States who administer it. Cutting welfare in half would cause people to starve. Plus, every penny of welfare checks is immediately pumped into the economy, so cutting that would not be a good unless absolutely necessary. But something close to what you suggest is probably what would occur.

    Under current law, I don't think it is possible to withhold interest on debt or social security payments once they have been authorized by Congress, though I'm not 100% sure on that. Everything else would face massive massive cuts. Unlike in the event of a shutdown following the failure to pass a budget, we couldn't fund emergency programs without authorization until the new bill passes. We just flat out wouldn't have the money. So even our ability to provide urgent and necessary funding to our troops would be in jeopardy, probably not immediately, but before long. And regardless, if we get too close to default (perhaps next week?), interest rates will start to go up, decreasing how much new money we can take in in borrowing as we pay off previous debt and raising the cost of running the government for years to come, regardless of any cuts we may or may not make.

  • Anonymous
    10 years ago

    Being the kids can't come to any sort of agreement on what to cut.I would freeze all currant wages an cut 2% across the board to start.

  • Anonymous
    10 years ago

    Thanks Hamilton, your idea of deficit spending and fetish with central banks ended up getting America in a lot of trouble. When Jefferson tried to undo the mess you made as Treasury Secretary, you called the Constitution "a frail and worthless fabric"

  • 10 years ago

    I would cut salaries at the state and federal level and cut welfare and disability insurance to those who obviously abuse the system.

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  • Anonymous
    10 years ago

    OBAMA, THE COTTON PICKER'S UNION NEEDS THE MONEY! BETTER YET, HIDE OUR MONEY IN KENYA SO YOU HAVE SPARE CHANGE WHEN YOUR EVICTED FROM THE WHITEHOUSE!

    Source(s): CNN
  • Anonymous
    10 years ago

    sell it to your senator

  • Anonymous
    10 years ago

    I would fund abortion clinics

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