Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

[Fantine]

It must be done .... what is going on with our debt is unsustainable. This has been going on for years (both parties-congress) and they have done nothing ... so getting people involved outside of of congress is necessary ... congress has shown they don't have the will to do it.

They have kicked the can down the road and we are at the end of the road.

The tax cuts benefits benefitting the rich raised the deficit much more than safety net programs...and the trusting, gullible people who thought Trump would help them will be betrayed and manipulated if he puts the burden of deficit reduction on those who can't afford it.

 

[eleos1954]

The tax cuts benefits benefitting the rich raised the deficit much more than safety net programs...and the trusting, gullible people who thought Trump would help them will be betrayed and manipulated if he puts the burden of deficit reduction on those who can't afford it.

I believe the tax system will be drastically changed ... perhaps eliminated ....

Before an income tax was established in America, the majority of funds given to the federal government derived from tariffs on domestic and international goods.

We will see.

 

[Oompa Loompa]

The tax cuts benefits benefitting the rich raised the deficit much more than safety net programs...and the trusting, gullible people who thought Trump would help them will be betrayed and manipulated if he puts the burden of deficit reduction on those who can't afford it.

I don't consider myself rich by any means, but my wallet circa 2016-2020 says you are wrong.

 

[Fantine]

In 2020 the stock market plunged at least 30-40%, tough on retired people like me...
And i saw a floundering leader who thought keeping his hotels open was more important than body bags in freezer trucks, surrounded by medical experts whose anguished horror was evident in every bone of their bodies. As I have said, "if this is how he handles a pandemic, clueless, delusional, in full meltdown how would he handle a war?" Incompetent, irrational....and now four years older.

Our assets have more than recovered. Thanks, President Biden.

 

[HARK!]

In 2020 the stock market plunged at least 30-40%,

Source?

i saw a floundering leader who thought keeping his hotels open was more important than body bags in freezer trucks,

Fact Check: FALSE!

surrounded by medical experts whose anguished horror was evident in every bone of their bodies.

Hyperbole

As I have said, "if this is how he handles a pandemic, clueless, delusional, in full meltdown how would he handle a war?" Incompetent, irrational....and now four years older.

I think that he's doing a fine job so far; and he's not even in office yet.

 

[Gene2memE]

In 2020 the stock market plunged at least 30-40%, tough on retired people like me...

Peak to floor falls for various exchanges and indices in 2020:

NYSE: -25.1%
EuroNext: -26.4%
NASDAQ: -29.3%
Nikkei: -30.5%
DJIA: -34.8%
CBOE: -36.6%

S&P 500 fell 31.8%.

I think all of them had recovered to pre-fall levels by 4Q2020. Tech stocks did much better than industrial and financial stocks, and basically kept US markets afloat in 2020-2021.

 

[essentialsaltes]

It must be done .... what is going on with our debt is unsustainable. This has been going on for years (both parties-congress) and they have done nothing ... so getting people involved outside of of congress is necessary ... congress has shown they don't have the will to do it.

But the Constitution gives Congress the authority to direct spending (and impose taxes). Ultimately Congress will have to pass a budget. At best these people outside government will be providing advice to Congress (as people outside government have done for centuries).

 

[ozso]

Peak to floor falls for various exchanges and indices in 2020:

NYSE: -25.1%
EuroNext: -26.4%
NASDAQ: -29.3%
Nikkei: -30.5%
DJIA: -34.8%
CBOE: -36.6%

S&P 500 fell 31.8%.

I think all of them had recovered to pre-fall levels by 4Q2020. Tech stocks did much better than industrial and financial stocks, and basically kept US markets afloat in 2020-2021.

I wonder if massive shutdowns had anything to do with that.

 

[DaisyDay]

I have to wonder if reducing mandatory staffing at nursing homes is a good way to save money,. Sure, it will save money, but at what human toll? Or does that part matter?

 

[Always in His Presence]

But the Constitution gives Congress the authority to direct spending (and impose taxes). Ultimately Congress will have to pass a budget. At best these people outside government will be providing advice to Congress (as people outside government have done for centuries).

Too bad they do not do their job -

“Congress won’t like this tough love, but they need it. In the past 40 years, Congress has passed a pathetic four budgets on time. Four in forty years,” Haley said during the speech. A clip of Haley making the claim about the Congressional budget during her speech was shared via her X account on Nov. 30, where it received over 70,000 views.​

​

FACT CHECK: Has Congress Only Passed Four Budgets On Time In The Past 40 Years?

Check Your Fact

checkyourfact.com

Fact checked - verified.

How about holding them accountably to doing their job and passing a budget on time, every time.

But let's bring reality into it. Pass a balanced budget amendment!

 

[Oompa Loompa]

In 2020 the stock market plunged at least 30-40%, tough on retired people like me...
And i saw a floundering leader who thought keeping his hotels open was more important than body bags in freezer trucks, surrounded by medical experts whose anguished horror was evident in every bone of their bodies. As I have said, "if this is how he handles a pandemic, clueless, delusional, in full meltdown how would he handle a war?" Incompetent, irrational....and now four years older.

Our assets have more than recovered. Thanks, President Biden.

Hyperbole.

 

[eleos1954]

But the Constitution gives Congress the authority to direct spending (and impose taxes). Ultimately Congress will have to pass a budget. At best these people outside government will be providing advice to Congress (as people outside government have done for centuries).

Yes ... this is true ... but the difference is that the people will have a greater understanding of how the tax dollars are spent and then can put pressure on congress to act. Also, the bills are massive and most of us do not read and/or understand them. Supposedly, Musk is developing a program through Grok (a X AI tool) that will summarize them into a shorter more understandable form.

The citizenry will be more better informed.

 

[HARK!]

But the Constitution gives Congress the authority to direct spending (and impose taxes). Ultimately Congress will have to pass a budget. At best these people outside government will be providing advice to Congress (as people outside government have done for centuries).

You might find this article to be informative:

This Trump Pick Can Silently Strangle the Deep State

President-elect Donald Trump has a rare talent in his nominee for the director for the Office of Management and Budget.

www.dailysignal.com

 

[Say it aint so]

WASHINGTON — President-elect Donald Trump can cut the federal deficit by $1.4 trillion over the next decade by rescinding President Biden’s executive actions, according to a report.


The potential cost-cutting was identified by the Committee for a Responsible Federal Budget, a nonprofit that advocates for fiscal restraint, as Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, looks for areas to slash spending.

Trump could slash deficit $1.4T by reversing these Biden executive actions on day one: report

Trump’s informal Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, is looking to slash “at least $2 trillion” in spending, according to the Tesla billionaire.

nypost.com

Reverse Executive Expansion of State-Directed Payments in Medicaid	$140 billion
Repeal Biden Administration Limits on Medicaid Eligibility Redeterminations	$75 billion
Revert Definition of Negotiated Prices Used to Calculate Medicare Part D Rebates	$65 billion
Revert ACA Affordability Definition to Self-Only Coverage (Family Glitch)	$40 billion
Block Rule Covering GLP-1 Obesity Drugs under Medicare	$0/$20/$40 billion*
Eliminate Medicaid Nursing Home Minimum Staffing Standards

No.

 

[essentialsaltes]

Yes ... this is true ... but the difference is that the people will have a greater understanding of how the tax dollars are spent and then can put pressure on congress to act.

Right wing news has been making people upset about thousand dollar hammers for 50 years. 'The citizenry' will have no more and no less power to influence their representatives in Congress, and they will have no greater and no lesser effect.

 

[essentialsaltes]

You might find this article to be informative:

I expect to find Russ Vought just as unable to cut $2 trillion in annual budget spending in Trump's second term as in Trump's first term.

 

[Nithavela]

I think that axing minimum staffing standards for nursing homes is a brilliant idea. The elderly must suffer greatly.

 

[Richard T]

Not as sharply than if we don't start making cuts.

Those cuts will just go to more spending. The democrats buy beer, the GOP buys champagne. The only difference is who benefits from the extra spending.

 

[HARK!]

Those cuts will just go to more spending. The democrats buy beer, the GOP buys champagne. The only difference is who benefits from the extra spending.

I'd much rather see it go toward its' intended purpose, to benefit the American People, rather than enriching the Biden family and their cronies.

 

[Richard T]

I'd much rather see it go toward its' intended purpose, to benefit the American People, rather than enriching the Biden family and their cronies.

That's good, accountability for all monies is important for both Biden, Trump and whoever.