2 ms·
There is a lot of waste (or, to be generous, inefficiency) in the DOD, but the DOD budget could be entirely wiped out and we'd still have deficits. The last tim
by Jtsummers 2y ago
There is a lot of waste (or, to be generous, inefficiency) in the DOD, but the DOD budget could be entirely wiped out and we'd still have deficits. The last time the DOD budget was larger than the deficit was FY16. After that, FY17, FY18, and FY19 deficits were $0.67, $0.78, and $0.98 trillion, then a whopping $3.13 trillion for FY20.
If we want to really tackle the deficit we probably need to raise revenue at least for a while, get the debt itself down (debt payments are a large percentage of the budget, and of course compounding). And figure out how to get Social Security, Medicare, and Medicaid to be more efficient or just say fuck it and cut them.
So far this FY we've accumulated another $700 billion in deficits with $1.79 trillion spent and about $1.08 trillion in revenue. If you look at the spending by agency, the DOD so far this FY has spent $250 billion, a bit more than 1/3rd the new deficit. HHS and SSA are $452 billion and $395 billion.
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/ https://fiscaldata.treasury.gov/americas-finance-guide/natio...
https://www.macrotrends.net/global-metrics/countries/usa/united-states/military-spending-defense-budget https://www.macrotrends.net/global-metrics/countries/usa/uni...
https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/ https://fiscaldata.treasury.gov/americas-finance-guide/feder...