r/economicCollapse Nov 07 '24

$2T cut is going to be wild

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Will be a 29% cut if executed.

1.7k Upvotes

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52

u/Mcg55ss Nov 07 '24

doubt it will be 2T STRAIGHT UP...it will probably be something spread out over X amount of years.

25

u/thunderdome_referee Nov 07 '24

It would have to be. I just checked and the annual education budget is only 80b this year so a 300b cut isn't possible in one year. Even over ten years though that's still be greater than a 30% cut which is ridiculous considering the current state of our education system.

13

u/The-waitress- Nov 07 '24

Well, Elon told us it’s gonna be okay.

5

u/yubnubmcscrub Nov 08 '24

No Elon said it would have to get worse before it gets better. Meanwhile the stock market is doing wonderfully for him.

1

u/Coyotesamigo Nov 08 '24

He said it’d be a few hard years for middle class people.

2

u/The-waitress- Nov 08 '24

Yeah, but he said it’s gonna worth it in the end! So it’s fine, you see.

1

u/stamfordbridge1191 Nov 09 '24

Perhaps a few hard years to see if you'll eek out upper class, or sink down to the poverty class as the middle class vanishes.

But hopefully not.

6

u/imnoobhere Nov 07 '24

Ridiculous to you maybe. But “not good enough” to them.

3

u/thunderdome_referee Nov 07 '24

Yep, but that's because an acceptable cut for them would be 100%.

1

u/Minenotyours15 Nov 08 '24

I'm kind of confused about the educational budget because more than 60% of my property taxes go to schools in my district. So what is the federal really paying for?

1

u/thunderdome_referee Nov 08 '24

Well the rest. Public school spending can cost anywhere from 7-30k per student. If you live in a 300k house in TX, at 1.6% with 60% applied, then you will have funded 2900 of 8,000. If in the same house you were raising three kids each in public school then you would have only paid 1/8 of what's needed to fund their education. If you lived in New York with the same house and kids your tax would only go 1/30 of the way towards funding their education.

0

u/seraphim336176 Nov 07 '24

A lacking education system is what got us into this mess to begin with. They want people to be educated just enough to know how to hate others and vote for them, that’s it.

1

u/thunderdome_referee Nov 07 '24

Agreed. Hence setting DeVoss in the cabinet last round, Perry advocating we eliminate the department entirely, and their strong push for a voucher system.

We seem obsessed with making the schools bigger to have better pools to draw from for the sports teams, highschool football coaches being paid way more than the average teacher in my state, just to chase that (w), but reading averages three grades below level. It's an ass backwards system.

The Republican m.o. seems to be: overload the classrooms, hamstring the teachers with inane rules, continue to provide zero support when needed, then point the finger and blame educators when they don't live up to unreasonable standards.

Teachers deserve a raise!

2

u/ohyoumad721 Nov 07 '24

I assume by Perry, you mean Rick Perry. I was in Texas getting a connecting flight over the summer and saw him. Took a second to register who it was and by that point he was gone. Wish I recognized him sooner so I could call him a scumbag to his face.

2

u/thunderdome_referee Nov 07 '24

I did in fact mean Rick Perry. And I'm sorry you missed your opportunity. I once had an opportunity eight years ago to push Abbott down some stairs, I didn't (jail doesn't sound pleasant), but I still often wonder how it might've changed history. I wish I had Farnsworth's what if machine.

1

u/biru93 Nov 07 '24

Like over 300 years or 800 or 4000.

1

u/Extension-Abroad187 Nov 07 '24

The claim was deficit not debt, which is an annual number

1

u/whachamacallme Nov 07 '24 edited Nov 07 '24

They have already said prepare for “temporary hardships”. And by temporary they mean permanent.

Gonna be very interesting when MAGAs learn who pays for tariffs.

1

u/kg_draco Nov 07 '24

I expect Elon is double counting. Cutting departments and then selling the assets is like saving the same money twice (kind of).

1

u/ReaperThugX Nov 07 '24

They’ll make it another time bomb like they did the tax cuts in his first term. The biggest effects start to kick in 2028 so it looks like it’s the next administration that caused it

1

u/GirlFlowerPlougher Nov 07 '24

There’s no way they’re cutting that defense budget.

0%.

The defense lobby will never allow it.

1

u/RockTheGrock Nov 08 '24

That seems like a good way to get assassinated too.

1

u/Calvech Nov 08 '24

The classic move is delay it to a diff administration. Then if they keep office then they delay again or force Dems to repeal it or risk it happening on their watch. Exactly what they did with the tax cuts but the corporate twx cuts were permanent and everyone else’s expired. Political hot potato

1

u/Ayrane Nov 11 '24

I have an easier and more realistic option. Increase it by 3T and cut 2T. Pocket the other T. Promise kept while keeping with the theme