Read/review the following resources for this activity:
- Textbook: Chapter 10
- Lesson
- Minimum of 1 scholarly source (in addition to the textbook)
Initial Post Instructions
You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Submit your recommendations and your reasoning for such recommendations using these guidelines:
– Use evidence (cite sources) to support your recommendations from assigned readings or online lessons, and at least one outside scholarly source.
– Use the format provided below to present your numbers and totals followed by an explanation below the chart.
– Please note that these are not true US budget numbers, but are reasonable hypothetical numbers to help us consider the budget processes complexities.
| DOMESTIC PROGRAMS AND FOREIGN AID | Cut some foreign aid to African countries | $17 billion |
| Eliminate farm subsidies | $14 billion | |
| Cut pay of civilian federal workers by 5 percent | $14 billion | |
| Reduce the overall federal workforce by 10% | $12 billion | |
| Cut aid to states by 5% | $29 billion | |
| MILITARY | Cut the number of nuclear warheads, and end the “Star Wars” missile defense program | $19 billion |
| Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe | $25 billion | |
| Cancel or delay some weapons programs | $19 billion | |
| HEALTHCARE | Enact medical malpractice reform by reducing the chances of large malpractice verdicts | $ 8 billion |
| Increase the Medicare eligibility age to 68 | $ 8 billion | |
| Raise the Social Security retirement age to 68. | $ 13 billion | |
| EXISTING TAXES | Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed. | $ 50 billion |
| End tax cuts for income above $250,000 a year | $ 54 billion | |
| End tax cuts for income below $250,000 a year | $ 172 billion | |
| Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare. | $ 50 billion | |
| NEW TAXES | Institute a Millionaire’s tax on income above $1 million | $ 50 billion |
| Add a national 5% sales tax | $ 41 billion | |
| Add a tax on carbon emissions | $ 40 billion | |
| Tax banks based on their sizes and the amount of risk they take. | $ 73 billion | |
| Total gap covered by your budget plan | $_________________ |
Follow-Up Post Instructions
Respond to at least two peers or one peer and the instructor. Further the dialogue by providing more information and clarification. Are the budget changes offered by your peers’ sound? Why or why not? Minimum of 1 scholarly source, which can include your textbook or assigned readings or may be from your additional scholarly research.
Writing Requirements
- Minimum of 3 posts (1 initial & 2 follow-up)
- Minimum of 2 sources cited (assigned readings/online lessons and an outside scholarly source)
- APA format for in-text citations and list of references
Grading
This activity will be graded using the Discussion Grading Rubric. Please review the following link:
- Link (webpage): Discussion Guidelines
Course Outcomes (CO): 5
Due Date for Initial Post: By 11:59 p.m. MT on Wednesday
Due Date for Follow-Up Posts: By 11:59 p.m. MT on Sunday
Solution:
The following table summarizes my recommendations to the president in a bid to cut the budget by at least $300 billion.
| Domestic programs and foreign aid | Foreign aid to Africa | $17B |
| Military | Cancel or delay some weapons programs | $19B |
| Existing taxes | Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed. | $50B |
| End tax cuts for income above $250,000 a year | $54B | |
| New taxes | Institute a Millionaire’s tax on income above $1 million | $50B |
| Add a tax on carbon emissions | $40B | |
| Tax banks based on their sizes and the amount of risk they take | $73B | |
| Total gap covered by the budget plan | $303B |
The following reasons have been provided to justify the above budget cuts:
With regards to domestic programs and foreign aid, I have proposed to cut a total of $17 billion from financial aid sent to Africa. About a quarter of US foreign aid goes to African countries. While the aid has been essential in areas such as technology and military, critics have argued that aid to developing countries, such as African countries, is associated with slowed economic growth, corruption, and overreliance on foreign aid, rather than their own capabilities to improve their economies (Gillanders, 2016). On the other hand, it is understood that American foreign aid to African countries is used to advance the country’s foreign policy agenda in the continent (Whitman Cobb, 2020)….Please click here to download at $5