Here's How To Cut $2.5 Trillion In Spending: Start With $1 Million In Mohair Subsidies

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Thu, 01/20/2011 - 17:58 | 891431 Robot Traders Mom
Robot Traders Mom's picture

Cutting off my retarded son's subscription to Jim Cramer's the Street. $39.99

Thu, 01/20/2011 - 21:10 | 891940 StychoKiller
StychoKiller's picture

Eliminate the "Strategic" helium reserve, it's time Congress comes to grips with the reality that dirigible warfare is NOT gonna make a comeback!

Mohair -- just WTF does anyone use mohair for?

Thu, 01/20/2011 - 21:35 | 892022 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

http://en.wikipedia.org/wiki/Mohair

I guess the Angora Goat lobby is still pretty strong. USA! USA!

Thu, 01/20/2011 - 23:44 | 892286 grunk
grunk's picture

I have a mohair suit. It goes with my electric boots.

B-b-b-bennie and the Inkjets!

Thu, 01/20/2011 - 17:59 | 891435 Jaw Knee Cash
Jaw Knee Cash's picture

Let's hope they did not cut funds for hipster douchbag studies.

Thu, 01/20/2011 - 19:35 | 891734 nmewn
nmewn's picture

Cut until bone is reached...then break out the saw.

Fri, 01/21/2011 - 07:24 | 892733 Mercury
Mercury's picture

I believe the mohair (fancy goat wool) subsidy came into being during WWII when the government was hard up for wool to make military gear.  And then of course it never died.  That's how immortal government programs are.

Fri, 01/21/2011 - 08:06 | 892756 nmewn
nmewn's picture

That's my understanding of it too.

Regarding the budget, it's like death by a thousand cuts, both ways.

My first thought was get rid of Homeland Security (it's redundant)...followed by the FEC (if it takes months to decide a credit card campaign contribution from Mickey Mouse & Osama bin Laden, for example, is fraudulant I have no use for them)...then the federal Education Dept. (back to the states)...Dept. of Energy (created by Carter to make us energy independent, epic fail)...etc.

We pay good money for iGov crap that's completely useless in a practical sense in our daily lives.

To the bone my friend.

Gotta go to work to help pay for some of this useless shit.

SeeYa

Thu, 01/20/2011 - 17:59 | 891438 Cheesy Bastard
Cheesy Bastard's picture

Priceless.  For everything else, there's mastercard.

Thu, 01/20/2011 - 19:13 | 891653 Pool Shark
Pool Shark's picture

Eliminate Visas for visiting Chinese dignitaries...

It's everywhere you want to be...

Thu, 01/20/2011 - 19:37 | 891741 nmewn
nmewn's picture

Hey!...I heard about that...Hu is going to Chicago to finish his studies on capitalism ;-)

Thu, 01/20/2011 - 18:00 | 891439 Gloomy
Gloomy's picture

I just had a conversation with my PM broker (Colorado Gold)-he said he had nearly record day today as people are buying in huge orders. Maybe we can do an informal survey and everyone report back in a reply to this message what their dealers say.

Thu, 01/20/2011 - 18:02 | 891444 Gloomy
Gloomy's picture

REQUEST INFORMATION!!

Thu, 01/20/2011 - 18:02 | 891446 haskelslocal
haskelslocal's picture

Next job you get, tell HR you want to be paid over 10 years. Amortize it and tell your wife, "honey! I just got a job paying $3.3M over 10 years!! Makes it sound nice.. Like the lotto....

Thu, 01/20/2011 - 18:04 | 891447 Spalding_Smailes
Spalding_Smailes's picture

(CNSNews.com) – The National Institute of Mental Health (NIMH), a division of the National Institutes of Health (NIH), spent $823,200 of economic stimulus funds in 2009 on a study by a UCLA research team to teach uncircumcised African men how to wash their genitals after having sex. 

 

The genitalia-washing program is part of a larger $12-million UCLA study examining how to better encourage Africans to undergo voluntary HIV testing and counseling – however, only the penis-washing study received money from the 2009 economic stimulus law. The washing portion of the study is set to end in 2011.

“NIH Announces the Availability of Recovery Act Funds for Competitive Revision Applications,” the grant abstract states. “We propose to evaluate the feasibility of a post-coital genital hygiene study among men unwilling to be circumcised in Orange Farm, South Africa.”

http://cnsnews.com/news/article/75198

Thu, 01/20/2011 - 18:03 | 891449 sabra1
sabra1's picture

just unplug the bernanks printing press!!!

Thu, 01/20/2011 - 18:03 | 891451 Gloomy
Gloomy's picture

REQUEST INFORMATION

 

 

I just had a conversation with my PM broker (Colorado Gold)-he said he had nearly record day today as people are buying in huge orders. Maybe we can do an informal survey and everyone report back in a reply to this message what their dealers say.

Thu, 01/20/2011 - 18:07 | 891464 Spalding_Smailes
Spalding_Smailes's picture

The guys a fucking salesman. 

 


"Home sales are coming down from the mountain peak, but they will level out at a high plateau -- a plateau that is higher than previous peaks in the housing cycle.”
- David Lereah, Chief Economist, National Association of Realtors


"...housing activity will remain healthy for some time to come."
- David Lereah, NAR’s chief economist, October 28, 2005


"The idea that we're going to see a collapse in the housing market seems to me improbable”
- John Snow, Secretary of the Treasury


"...good stocks are cheap at these prices."
- Goodbody and Company market letter quoted in The New York Times, Friday, October 25, 1929


"I am convinced that through these measures we have reestablished confidence."
- Herbert Hoover, December 1929

"We are really on track for a soft landing. There are no balloons popping.”
- David Lereah, NAR’s chief economist, December 2005


Thu, 01/20/2011 - 18:07 | 891460 NOTW777
NOTW777's picture

they have to start somewhere

Thu, 01/20/2011 - 18:08 | 891465 Misean
Misean's picture

" will result in massive federal worker layoffs: probably not what the country needs..."

Um...it's PRECISELY what this country needs. Fewer BureauRATs mean less interference, and less waste. When resources are getting thin one does not waste them. They can always stand on a street corner with signs "Will engage in petty regulatory tyranny for food" or "Will shuffle papers for food." or "Will pretend to be busy for food"...you know, stuff they're good at...sans the ability to stick a gun in their neighbors face and FORCE them to pay up...pitty really.

Thu, 01/20/2011 - 18:35 | 891556 Kayman
Kayman's picture

Time to cut the country's OVERHEAD.

1. First let the financial dinosaurs die. Good bye and good riddance Wall street, Bernanke and the derivative skimmers.

2. Cut government employment.  Overpaid, overpensionned whiners everyone.

Yeah, go out and get that private sector job you keep threatening to do.

Want to know how much you will be missed ?  Put your hand into a bucket of water and pull it out... about that much....

 

Thu, 01/20/2011 - 19:31 | 891718 Don Birnam
Don Birnam's picture

Wages are generous enough, what with guaranteed annual increases and little "heavy lifting," but much like Jacob Marley's chain, forged link by link, and yard by yard through the "working" life, the eternal federal retirement pension and health benefits are the most ponderous and draining.

Thu, 01/20/2011 - 19:46 | 891765 nmewn
nmewn's picture

The first thing that needs to happen is stop the ridiculous baseline budgeting process...the ever upwardly mobile budget for federal expenditures.

No family or business runs their affairs this way...built in spending increases year after year...it's suicidal.

Thu, 01/20/2011 - 18:44 | 891583 XitSam
XitSam's picture

"One thing is certain: these cuts, if even implemented even one tenth of the way, will result in massive federal worker layoffs: probably not what the country needs as it scrambles to come up with every possible way to present data in a way showing the unemployment rate is tumbling."

After re-reading the whole quote, I believe he is being sarcastic.

Thu, 01/20/2011 - 20:50 | 891893 freedmon
freedmon's picture

No, he's exactly right. I don't argue that there is a great deal of waste in the federal government, but if you slash government spending and send federal workers home, where are they going to go? They will just add to the unemployment numbers, tax revenues will drop accordingly (remember that those people pay federal and state income taxes on those "wasteful" govt salaries), as will aggregate economic demand. The proposed "savings" will never materialise.

Next, with so many more new ex-bureaucrats on the dole, and the savings offset by a loss of tax revenue and rising UI benefit costs, the next proposal will be to cut medicaid and welfare. Then you wind up with millions of starving people who have no way out, and you're certainly not going to get a recovery out of that.

Thu, 01/20/2011 - 23:16 | 892247 RockyRacoon
RockyRacoon's picture

They can join the Paper Shuffling & Pencil Pushers Union.

I hear they meet at the local Unemployment Office.

Thu, 01/20/2011 - 18:09 | 891467 profoundlogic
profoundlogic's picture

How about cutting half of the money-siphon that is the military industrial complex?  Oh wait, the Afgan security force is going to keep my home safe.  LOL!

Thu, 01/20/2011 - 18:09 | 891468 Yen Cross
Yen Cross's picture

  This is very much appreciated! I just need to break it down! Thanks again to the contributer.

Thu, 01/20/2011 - 18:12 | 891475 anony
anony's picture

I'm all for cutting every single program listed above and the Defense department headcount and expense appropriation by 2%  per year for the next 5 yrs and no fucking bullshit calling,  "Reducing the Rate of Increase", a cut.

And replacing the C.O.L. number with real world Supply/Demand numbers. If the price of that which we need to survive---i.e.  food, fuel, li'l Debbies, and Ho-hos---then the checks the government issues for Social Security, REAL retirement and medical reimbursements and not every other welfare program that the politicians have dumped into the Old Age Survivor's Benefit, then the amount received goes up to account for it.

Instead of the stealth cuts in the Social Security and Medicare increases that my elderly parents have seen these last two years.   

Thu, 01/20/2011 - 20:39 | 891873 Kali
Kali's picture

And get rid of the ridiculous and totalitarian Homeland Security. 

Thu, 01/20/2011 - 18:14 | 891483 AR15AU
AR15AU's picture

Massive Federal layoffs are exactly what we need. WTF

Thu, 01/20/2011 - 18:21 | 891511 cxl9
cxl9's picture

People have been conditioned to believe that "we need jobs!!!@!" and that any job cuts anywhere are a Bad Thing (in our consumer-driven economy), without ever considering if a job needs doing, or fulfills a need. The vast majority of government jobs are simply welfare, providing services for which there is no genuine market demand. Few, if any, people would freely purchase the services that government employees are being paid for. But because this welfare is disguised as legitimate employment, people seem to believe that eliminating those jobs will be bad for the economy. Small wonder the country is bankrupt.

Thu, 01/20/2011 - 18:31 | 891545 AR15AU
AR15AU's picture

Yes, a flat tax of 15% would render hundreds of thousands of IRS workers useless. Millions more in the tax preparation, tax attorney, and corporate tax / accounting fields. 

Imagine if these people actually did something productive for the economy.

Thu, 01/20/2011 - 18:44 | 891582 Boonie
Boonie's picture

Imagine your reaction when you realize your new 15% flat tax rate is higher than your prior net income effective tax rate...... Woops......Mulligan

Fri, 01/21/2011 - 11:33 | 893241 Boonie
Boonie's picture

Wow, six junks.  I even junked myself.  Let's clarify matters a bit.

First, sorry but you guys are being snookered by politicians.  It's so easy for them to campaign on cutting tax rates or raising rates on the "rich" when your marginal tax rate ultimately does not determine your tax burden.  Understand a politician's call for a "flat tax" for what it really is - a gross income tax.  That means, as a business, you pay tax whether your business is profitable or not.  As an individual, you file an easy one page return, but most of us see our taxes actually increase. 

Look at it this way - let's say your adjusted gross income for 2010 was $40,712 (the average wage for 2009).  You are married and file a joint federal income tax return with your spouse (or you qualify as head of household).  That puts you in the 15% tax bracket.  So, a 15% flat tax is no tax cut at all for you.  In fact, after you take your itemized deductions or standard deduction, as the case may be, any tax credits, etc., your EFFECTIVE rate of tax will be much less than 15%.  As a result, a 15% flat tax is actually a tax increase for you.  (If you are single or married, filing separate, then your $40,712 AGI puts you into the 25% bracket, but whether or not that 15% flat tax actually benefits you depends on those deductions and tax credits).  Now, if instead your AGI is $250K and you filed married/joint then you're in the 33% tax bracket (35% if filing married, separate).  After taking the deductions, credits, etc., the amount of a tax cut for you depends on what your EFFECTIVE rate of tax will be compared to the flat tax of 15%.  All the flat tax will do for most people is reduce their tax compliance burden.  Sorry, but I find TurboTax pretty easy to use.  Even Turbo Tax Timmay could do it. 

There already are plenty of flat taxes that you pay or may pay.  For example, Social Security is a flat tax of 6.2% for the employee (4.2% for 2011) and a flat tax of 6.2% for the employer.  Add Medicare tax of a flat rate of 1.45% on top of that.  For a self-employed person, that's a nice flat tax rate of almost 14%.  Let's say you are a business operating in Ohio, Michigan, Texas, Washington and pay their gross income taxes of various names.  Your business expenses exceed your business revenues, but you are still taxed.  Is that fair?  I don't think so. 

Face it.  None of us like paying taxes.  None of us like the compliance burden.  But I do like roads, schools, fire and police protection, etc.  I love to hunt and fish and like all hunters and anglers am voluntarily taxed when I buy ammo, firearms, lures, etc. to support wildlife habitat.  As a libertarian, a "flat tax" on my gross income is as much a violation of my liberty as a graduated tax rate on my net income.  Perhaps a national sales tax is a better route, as it taxes my consumption not my labor, but such a tax is highly regressive.  I have read that a flat tax rate would have to be 25% and I'm sure a national sales tax rate would be pretty high itself.  The average state and local sales tax rate for those states that impose it (47, including DC; excluding AK, DE, NH, OR, and MT) is 7%.  The compliance burden on businesses is at least as difficult, if not more so, than for the net income tax.  I'd guestimate that rate would have to be doubled and imposed on all of those things you need to live such as food, energy, clothing, medicine, etc.  I'm sure sales of gold and silver bullion would be subjected to a national sales tax, as well.  

As we know, it doesn't matter what tax collections are in terms of what the feds will spend or the number of government employees.  If it did, we wouldn't have annual deficits or a national debt.  The beast refuses to be starved.  Government spending has to be cut and the focus must be on the 3 pillars - defense, social security, and medicare.  The Republicans' list is nice and a start, but it really only gives them some campaign soundbites.  Let the snookering continue. 

 

 

 

 

 

Thu, 01/20/2011 - 19:34 | 891732 gookempucky
gookempucky's picture

Not only that it makes me wonder what to do with those buildings that cost multi millions to build ???

Kansas City IRS building downtown.

http://www.urban-photos.com/view_image/12486/IRS-(Kansas-City-MO).html

Thu, 01/20/2011 - 21:16 | 891952 StychoKiller
StychoKiller's picture

Turn them into Dildo factories, not much of a change really! :>D

Thu, 01/20/2011 - 19:27 | 891704 RingToneDeaf
RingToneDeaf's picture

Amen, Cheers, Score, Brother!

Government workers are a drag on the economy. They are using my unborn children's children' future. How could anyone feel bad about picking a life draining tick off the lifeblood of America, the money supply.

Start with those millions of fiends in EPA, Dept of Special Education, ATF, USDA, FDA, HHS and Department of Injustice and on and on and how about the bankrupt states?

Hire a teacher, they sure did a great job on the kids. Blame home schoolers, they are responsible. They kept another million or so teachers from getting hired. Gack!

We must stop digging the hole before you can get out. One $6 figure govinmint employee at a time.

Thu, 01/20/2011 - 18:15 | 891488 Ludic Fallacy
Ludic Fallacy's picture

I think the federal government cut spending in 1921, to pre-war levels.  It was a 50% cut, if I recall.  This used to be the way things were after wars/inflation, the gov't cut spending, the economy corrected and reset, and we moved on.  That all changed when Mr. Keynes came to the economic forefront. 

Thu, 01/20/2011 - 18:15 | 891489 cxl9
cxl9's picture

This is fantasy. Federal government spending will never decrease. The rate of acceleration may, occasionally, flatten briefly before resuming an upward trajectory, but spending will never decrease. There is simply no mechanism that can cause it to happen, prior to the ultimate collapse of course.

Thu, 01/20/2011 - 18:15 | 891490 grid-b-gone
grid-b-gone's picture

And how about that Social Security $255 death benefit? How many federal employees does it take to track eligilability, confirm death, confirm next of kin beneficiary, and send a check?

There are thousands of programs like this and Mohair subsidies where the net benefit does not justify the administration of the program.

Thu, 01/20/2011 - 18:17 | 891496 dondonsurvelo
dondonsurvelo's picture

I see ethanol is still on the boondoogle list.  These jokers are not serious.

Thu, 01/20/2011 - 18:24 | 891516 ewmayer
ewmayer's picture

"Mohair subsidy" ... what is that, some kind of federal anti-baldness initiative? Gotta grow me some mo' hair, y'all - can I get some government scalp-stimulus money for that?

Thu, 01/20/2011 - 18:34 | 891555 fearsomepirate
fearsomepirate's picture

It's intended to boost mohair production so that Doughboys in France can have uniforms to fight the Great War.  And no, I'm not joking.

Thu, 01/20/2011 - 18:23 | 891518 daybyday
daybyday's picture

colorado gold...lol...dude wtf...just trade futures and take deliv...lol...and if retail is buying i am selling...and maybe you should ask your broker how the used car mkt is doing cause thats what he was doing last week.

Thu, 01/20/2011 - 18:24 | 891522 spongeBOB
spongeBOB's picture

Was this leaked around noon when the DOW and S&P took off ???

Thu, 01/20/2011 - 18:30 | 891538 Cdad
Cdad's picture

will result in massive federal worker layoffs: probably not what the country needs as it scrambles to come up with every possible way to present data in a way showing the unemployment rate is tumbling.

I really have a problem with the above quote...especially the bolded part, Bruce.  Pink slips by the 10s of thousands of govt employees is EXACTLY what Average Joe needs. 

Thu, 01/20/2011 - 18:30 | 891540 gwar5
gwar5's picture

Doesn't change the long term, only slows it down. But good start though. 

If Cuba can lay off 500K (5% of the population) from government jobs, we can lay off some too.

We need all of our dedicated government types in the private sector.

Of course they'll need to attend re-education camps first. 

Thu, 01/20/2011 - 18:33 | 891552 fearsomepirate
fearsomepirate's picture

I don't see the problem with laying off federal workers.  On unemployment, all they do is consume resources.  As bureaucrats, they consume resources and actively work to destroy the economy.

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