Budget Hero: Take a crack at balancing the federal budget
Posted
Jun 12 2008, 04:49 PM
by
Karen Datko
Rating:
Adjusting your household budget to cover the higher price of gas can be tricky enough. Imagine having to balance the deficit-ridden federal budget. You can give it a whack at American Public Media's Budget Hero.
It's fun, it's interactive, and it has really cool sound effects. Nothing like hearing the glass shattering when the budget you devise is out of control.
American Public Media is the outfit that brings us such public radio favorites as "Marketplace" (which recently featured an interview with our culinary hero, the 99 Cent Chef) and "A Prairie Home Companion."
Budget Hero is easy to use. You click on budget categories like defense, health care, Social Security, taxes and the like, and then pick the items you want to cut from or add to the federal budget. You can read an explanation of the implications of your budget decisions before you choose. Once you're done, you can see if your budget is balanced and sustainable.
Kevin at No Debt Plan gave it a try and explained his policy choices. Here is a small sample of his remarks:
Increase Social Security taxes for the wealthy (a revenue boost of $536 billion). "One of the things that really annoys me is that Social Security tax is only taken out of the first $102,000 worth of earnings," Kevin writes.
End tax breaks for big oil ($14 billion in additional revenue). He says, "Tell me again why huge oil companies earning billions of dollars a year in profit should get tax breaks?"
Lest you think Kevin is a tax-and-spend kind of guy, he also wants to end pork-barrel spending, and reduce foreign aid, military spending and farm subsidies. When Kevin got done with the budget, it was leaner, meaner and had a $743 billion surplus.