How would you balance the federal budget?
Our current budget has a deficit of over 1.3 trillion dollars. What would you do to have a deficit of 0 dollars next year? Personally, I would focus on raising revenues and cutting spending. I would cut the budget for every federal department by 15%, saving $200 billion dollars. Next I would work towards canceling expensive military projects like the F-35 fighter jet saving another $20 billion. I would strongly reduce medicare benefits, pushing towards pain management and palliative care over expensive drugs, surgeries and cancer treatments for terminally ill patients. There also needs to be accountability for patients with chronic diseases. Coupled with reducing fraud and this would save a lot of money on medicare. Finally, I would implement a draft during times of war that would reduce our nation's dependence on expensive private contractors to the tune of another $50 to $100 billion dollars. Ending the wars would also help reduce costs. Return control of education to the states and reduce federal involvement including ending the student loan programs and pell grants. As for spending, repeal the earlier tax cuts from the Bush era. Repeal social security tax cuts, raise the FICA tax rate past prior levels and extend the wage cap to shore up social security and medicare. Reduce many tax exemptions and eliminate the student loan and mortgage interest deductions. Tax capital gains at a flat rate with the only exception being long term gains on investments producing small business loans.