Good afternoon everyone. I am Samantha Stock and I am the secretary of treasury. We are here today to have a conversation about very controversial topics regarding the economy. I would like to discuss with the help of my president Angie Tyner and my Vice President Jordana Bove the problems with today’s economy.
1. Our administration plans to decrease debt by cutting programs that are not needed. My team will take away 487 billion dollars away programs that are not in use and are not helping us. Cutting this money will decrease the amount of debt that our country is in. Also the amount of money we spend to aid other countries should be decreased. We spend too much on other countries that we can be using for America. we will still be providing aid, but need we need to cut down the cost. Once we cut these programs, the economy will slowly over time regain strength.
2. In order to decrease our nation's debt we will cut billions from higher education programs because updated technology is not a necessity to be added to classrooms yearly. Also, one of the largest expenses is transportations such as railroads and highways. Although transportation is extremely important, we will cut $10 billion because of the community worked together to keep our highways, bridges, and railroads a clean environment all of this money wouldn’t be necessary. Cutting the funds of the federal prison system is another way to decrease our nation's debt. They are prisoners after all and deserve the basic needs of life, but not much more. Lastly cut $10 billion from international development and humanitarian assistance.
3. I plan to decrease our national defense budget because there is no reason we should keep putting in more money every year to the national defense budget if nothing is happening and we aren’t getting any benefits. The United States spends the most money of any country on military budgets and it accounts for over 54% of federal spending. Instead of spending so much more money on the national defense budget we should focus and spend more money on education.
4. The age to collect social security should NOT be raised from 65 for many reasons. A disadvantage of increasing it would is that it would increase the incentive for older workers nearing retirement to stop working and apply for DI benefits. Also it would increase the annual limit above $127,000 because that’s where they stop collecting it now. 6.2% of your salary you and your boss pay. After you made that money you stop paying into it and you should still have to pay it after $128,700.
5. I believe that the age to receive Medicare should NOT be raised from 65 in order to save the US money. Raising the eligibility age would make overall health care costs increase, because the costs simply would be shifted to private insurers which are less efficient than Medicare. Also, raising the eligibility age would barely reduce federal spending, because many seniors now qualify for Medicare before age 65, due to disability or other medical conditions. Lastly, The congressional budget office estimates that if the Medicare eligibility rate is raised, net federal savings between now and 2023 will be $19.1 billion. Increasing the Medicare age would not generate any significant savings and would come with a high societal cost therefore we should not raise the eligibility for Medicare
6. The United States spends over 20 billion every year in foreign aid to other countries as an administration we plan to continue the amount of aid we give each year. What if countries who gave us loans each year decided to stop giving them to us or decided we had to pay them back now. Would we ever want to put another country in that situation. America has always been a country who helps those in need. We intend to keep that the same
7. I think raising taxes on our citizens would help alleviate our nation's staggering debt. Raising taxes is the only way to help our country start to get out of the huge national debt we are in, but only if we raise taxes in the right ways, or cut off government spending in places, but our country uses a vast amount of resources, and people are not willing to part with these luxuries, so something has to give. If we raise a small percentage on our citizens taxes we will get more money and it won’t affect the taxes that much that the people would see a difference and also will not make conflict between people.
8. My team and I plan to decrease the amount spent on our national security because it will decrease the amount of debt our nation is in. Our decision does not pose a threat to our society. Yes, our country likes to help other countries that are in need but when it comes to our country and looking at all the debt that we are in something has got to give. And if that means we need to pull back from foreign countries in order to decrease our debt then we will do it.
1. Our administration plans to decrease debt by cutting programs that are not needed. My team will take away 487 billion dollars away programs that are not in use and are not helping us. Cutting this money will decrease the amount of debt that our country is in. Also the amount of money we spend to aid other countries should be decreased. We spend too much on other countries that we can be using for America. we will still be providing aid, but need we need to cut down the cost. Once we cut these programs, the economy will slowly over time regain strength.
2. In order to decrease our nation's debt we will cut billions from higher education programs because updated technology is not a necessity to be added to classrooms yearly. Also, one of the largest expenses is transportations such as railroads and highways. Although transportation is extremely important, we will cut $10 billion because of the community worked together to keep our highways, bridges, and railroads a clean environment all of this money wouldn’t be necessary. Cutting the funds of the federal prison system is another way to decrease our nation's debt. They are prisoners after all and deserve the basic needs of life, but not much more. Lastly cut $10 billion from international development and humanitarian assistance.
3. I plan to decrease our national defense budget because there is no reason we should keep putting in more money every year to the national defense budget if nothing is happening and we aren’t getting any benefits. The United States spends the most money of any country on military budgets and it accounts for over 54% of federal spending. Instead of spending so much more money on the national defense budget we should focus and spend more money on education.
4. The age to collect social security should NOT be raised from 65 for many reasons. A disadvantage of increasing it would is that it would increase the incentive for older workers nearing retirement to stop working and apply for DI benefits. Also it would increase the annual limit above $127,000 because that’s where they stop collecting it now. 6.2% of your salary you and your boss pay. After you made that money you stop paying into it and you should still have to pay it after $128,700.
5. I believe that the age to receive Medicare should NOT be raised from 65 in order to save the US money. Raising the eligibility age would make overall health care costs increase, because the costs simply would be shifted to private insurers which are less efficient than Medicare. Also, raising the eligibility age would barely reduce federal spending, because many seniors now qualify for Medicare before age 65, due to disability or other medical conditions. Lastly, The congressional budget office estimates that if the Medicare eligibility rate is raised, net federal savings between now and 2023 will be $19.1 billion. Increasing the Medicare age would not generate any significant savings and would come with a high societal cost therefore we should not raise the eligibility for Medicare
6. The United States spends over 20 billion every year in foreign aid to other countries as an administration we plan to continue the amount of aid we give each year. What if countries who gave us loans each year decided to stop giving them to us or decided we had to pay them back now. Would we ever want to put another country in that situation. America has always been a country who helps those in need. We intend to keep that the same
7. I think raising taxes on our citizens would help alleviate our nation's staggering debt. Raising taxes is the only way to help our country start to get out of the huge national debt we are in, but only if we raise taxes in the right ways, or cut off government spending in places, but our country uses a vast amount of resources, and people are not willing to part with these luxuries, so something has to give. If we raise a small percentage on our citizens taxes we will get more money and it won’t affect the taxes that much that the people would see a difference and also will not make conflict between people.
8. My team and I plan to decrease the amount spent on our national security because it will decrease the amount of debt our nation is in. Our decision does not pose a threat to our society. Yes, our country likes to help other countries that are in need but when it comes to our country and looking at all the debt that we are in something has got to give. And if that means we need to pull back from foreign countries in order to decrease our debt then we will do it.