Budget cut essay

One page…You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Submit your recommendations and your reasoning for such recommendations using these guidelines:- Use evidence (cite sources) to support your recommendations from assigned readings or online lessons, and at least one outside scholarly source.- Use the format provided below to present your numbers and totals followed by an explanation below the chart.- Please note that these are not true US budget numbers, but are reasonable hypothetical numbers to help us consider the budget processes complexities.DOMESTIC PROGRAMS AND FOREIGN AIDCut some foreign aid to African countries$17 billionEliminate farm subsidies$14 billionCut pay of civilian federal workers by 5 percent$14 billionReduce the overall federal workforce by 10%$12 billionCut aid to states by 5%$29 billionMILITARYCut the number of nuclear warheads, and end the “Star Wars” missile defense program$19 billionReduce military to pre-Iraq War size and further reduce troops in Asia and Europe$25 billionCancel or delay some weapons programs$19 billionHEALTHCAREEnact medical malpractice reform by reducing the chances of large malpractice verdicts$ 8 billionIncrease the Medicare eligibility age to 68$ 8 billionRaise the Social Security retirement age to 68.$ 13 billionEXISTING TAXESReturn the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed.$ 50 billionEnd tax cuts for income above $250,000 a year$ 54 billionEnd tax cuts for income below $250,000 a year$ 172 billionPayroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare.$ 50 billionNEW TAXESInstitute a Millionaire’s tax on income above $1 million$ 50 billionAdd a national 5% sales tax$ 41 billionAdd a tax on carbon emissions$ 40 billionTax banks based on their sizes and the amount of risk they take.$ 73 billionTotal gap covered by your budget plan$____Political Science


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