Budget Deficit Reduction and Economic Recovery

>Balanced Budget in 2-3 Years

>Rescind the Bush and Reagan Tax Breaks for top 1% (over $200,000)- $450 Billion Annual Gain

 >Simplify Income Tax Code and Eliminate Loopholes - $150 Billion Annual Gain

>Savings from Reduced Government Health Costs

>Savings from Restructured War on Terror

In 2006 and 2008, I presented a plan to end the deficit in a single year.  In the circumstances of 2010 we have to think in terms of having a Balanced Budget in 2 - 3 Years. 

 As the Obama administration took office in January 2009, financial institutions were on the brink of collapse, the stock market was in a tailspin, we were losing jobs at a rate of 800,000 per month and the deficit was $1.3 trillion.  The financial institution bailout, which began in the Bush administration, was completed and the financial system was stabilized.  An economic stimulus package was necessary to restore jobs.   One year later, job loss is down to 20,000 per month.  More stimulus is necessary.  The forecast is for deficits continuing. 

My plan of 2006 and 2008 would have produced $750 billion each year in additional income and reduced expenses.   That would have been enough to cancel the $500 billion deficits of those years.  Those actions which I proposed 2 and 4 years ago are still applicable today and should be implemented.  They will help rather than hurt our economic recovery.   Key elements of my plan have been and are to Rescind the Reagan and Bush Tax Breaks for the Top 1% and Simplify the Income Tax Code and Eliminate Loopholes.  Savings from Reduced Government Health Costs and Restructuring the War on Terror will be very substantial  factors.

The job stimulus expenditures should disappear after one or two more years.  If we implement an enhanced Medicare for All, we can reduce government expenditures for health care while also reducing the burden of healthcare on our businesses.  That would improve the competitive position of our businesses and supercharge our economic recovery, producing more government income.  Investments in clean alternative energy (wind and solar) will produce jobs immediately and will spur our economy  as these new energy sources come on line.   Ending the wars in Iraq and Afghanistan will further reduce government expenditures.  If we implement these actions, we should see budget surpluses within a few years.

All of the measures which I propose are win win win proposals.  They aid our economic recovery, reduce deficits, put our people back to work, and give us good health care for all, clean energy, and peace. 

The alternative is hate mongering and no useful proposals from the Republican party of "no" surrogates for greedy special interests.   My presumed opponent in November 2010, Steve Austria,  either has nothing to say or mumbles vague generalities about these issues.  Steve has learned from bitter experience to follow the old axiom attributed to Ben Franklin, "Better to be silent and be thought a fool than to speak and remove all doubt."    Austria's version is "Better to mumble meaningless generalities and be thought a fool than to say something discernable and remove all doubt."