reply to post by mikerussellus
The fed made 850 billion for the financial market bailout. 80 Billion for AIG. 35 billion for auto makers etc... etc.... etc... And now they're
announcing they want another 300 billion. Yes the genie is out of the bottle, we have a LARGE economy takes a while for everything to work through.
However I am far from a Economic expert, I have afterall only taken one class in college and one in highschool about it.
Here's how our 2009 Budget Breaks down:
Mandatory spending: $1.89 trillion (+6.2%)
$644 billion - Social Security
$515.4 billion - United States Department of Defense
$408 billion - Medicare
$224 billion - Medicaid and the State Children's Health Insurance Program (SCHIP)
$360 billion - Unemployment/Welfare/Other mandatory spending
$260 billion - Interest on National Debt
Discretionary spending: $1.21 trillion (+4.9%)
$145.2 billion(2008*) - Global War on Terror
$70.4 billion - United States Department of Health and Human Services
$59.2 billion - United States Department of Education
$44.8 billion - United States Department of Veterans Affairs
$38.5 billion - United States Department of Housing and Urban Development
$38.3 billion - State and Other International Programs
$37.6 billion - United States Department of Homeland Security
$25.0 billion - United States Department of Energy
$20.8 billion - United States Department of Agriculture
$20.3 billion - United States Department of Justice
$17.6 billion - National Aeronautics and Space Administration
$12.5 billion - United States Department of the Treasury
$11.5 billion - United States Department of Transportation
$10.6 billion - United States Department of the Interior
$10.5 billion - United States Department of Labor
$8.4 billion - Social Security Administration
$7.1 billion - United States Environmental Protection Agency
$6.9 billion - National Science Foundation
$6.3 billion - Judicial branch (United States federal courts)
$4.7 billion - Legislative branch (United States Congress)
$4.7 billion - United States Army Corps of Engineers
$0.4 billion - Executive Office of the President
$0.7 billion - Small Business Administration
$7.2 billion - Other agencies
$39.0 billion(2008*) - Other Off-budget Discretionary Spending
We only took in 2.7 trillion for a 3.1 trillion budget. Meaning at 400 Billion dollar deficit. Since 1.89 trillion is mandatory spending. I can only
see having 100 billion cut out of that for defense, it did after all jump up 59 billion 2009 alone(same size as the education department).
I'm not saying I don't see how other mandatory spending could be cut either. I'm saying from how Obama just spoke and what his plans are I don't
think he'll be cutting any other mandatory spending. Possibly a cut on social security, medicare, medicaide.Honestly I'm at a loss I don't see
where they're gonna get the money for anything without huge budgets cuts and/or tax increases for somebody. What pisses me off is the interest we're
paying, that's gone up 50 billion alone since 2006.
You gotta remember 144Billion, which is off the books, a year alone goes to our Occupations.
Edit for source of Budget break down.
[edit on 7-11-2008 by djpaec]
[edit on 7-11-2008 by djpaec]