Balancing Federal Budget

J ared Owen Revenues (in millions of dollars) Individual Income Taxes Corporate Income Taxes companion satisfactory Insurance and Retirement Receipts walk out Taxes Other Total 2011 federal figure 1,091,473 181,085 818,792 72,381 139,735 2,303,466 Your Budget $1,391,473 $187,946 $800,000 $65,256 $159,000 $2,603,675 Difference +$300,000 +$6,861 -$18,792 -$7,125 +$19,265 +$303,166 Expenditures (in millions of dollars) 050 National exculpation Total-Spending categories 150-450 500 Education 550 Health 570 Medicare 600 Income surety 650 Social guarantor Total-Spending categories 700-950 Total 2011 Federal Budget 705,625 257,662 101,233 372,500 485,653 597,352 730,811 352,225 3,603,061 Your Budget $505,644 $200,632 $110,000 $250,500 $479,222 $407,123 $450,351 200,203 2,603,675 Difference -$199,981 -$57,030 +$8,767 -$122,000 -$6,431 -$190,229 -$280,460 -$152,022 -$999,386 I am going to raise the singular income tax which might anger pot however I am moody the excise taxes whic h is for gas, etc.I am also increase corporate income taxes because outsize(p) franchise companies prat afford to give up somewhat of their income to be able to give to a greater extent than elsewhere. I thought lowering the favorable insurance and retirement receipts was a good idea because on that point are programs and benefits that are already utilise into this and the plain money leave behind be cast off in areas that do non bring on extra help and rely honorable on the money inflow. I change magnitude the other category because since it incorporates multiple programs, the big increase allow be string out across a lot of incompatible programs therefore, to each individual program it entrust not be a big increase.I lowered the National Defense outlay because since we won the war overseas, we are convey more and more troops plateful and even though it is not a total peace time, we do not have to spend as untold as the year before. I really increased what is spend on commandment because that is very important to our rural area and the more educated people there are, the more jobs people will be able to get which in wrick authority they make more money accordingly they would without education. This means that more money will increase the gross domestic product and make the parsimony grow.Unfortunately, I had to cut some expending in the health and medicare areas but there are programs and benefits that help these areas so it is not as much as a loss and the plain numbers show. I decreased the social security because this governing body spending does not count towards the GDP which means it does nothing for the scrimping. These people nominate afford to take a teeny-weeny-scale pay cut in place for that money to be used in other areas that will help the providence grow. I decreased the income security because of the distinct acts such as The Employee Retirement Income Security Act of 1974 which protect these people in s aid programs.The decrease in two total spending categories are appropriate, again, because they overwhelm multiple areas that already have benefits implemented in them. This means that a small decrease in many areas will give a bigger congeries of money to be spent in other areas. In conclusion, the areas that need to be changed are the ones that will make the race spend more in our country to increase our GDP and in turn get our economy back on track. By doing this, we are getting our economy under control which will superstar to it becoming easier to balance the federal budget.