We must do more to help the economy. However, many Americans are worried about growing deficits.
But what if we can address both problems at once? What if we create one bill that will get money into the economy and into taxpayers' hands right now, while also reducing the deficit from 2012 onward?
We can do both. Follow us below the fold for our proposal: "Jobs Now, Cuts Later".
From our website www.JobsNowCutsLater.com:
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JOBS NOW
1. At the start of 2011, suspend the Social Security Tax for two months. This will provide much-needed relief to over 150 million Americans and increase available funds for companies previously unwilling to hire.
2. Extend unemployment benefits temporarily. This will help the over 14 million unemployed Americans at a time when only 3 million job openings are available.
3. General aid to the States. This will reduce layoffs among police, firefighters, teachers, and other vital services.
Overall costs: $165 billion in 2011.
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CUTS LATER
1. Reduce defense spending by 5% starting in 2012. The Sustainable Defense Task Force has identified several programs that are outdated, wasteful, and/or inefficient. This requires just one-third of those cuts.
2. Increase the Social Security Retirement age by 1 year for those under 55. This will reduce deficits without impacting those already close to retirement.
Overall savings: At least $35 billion per year from 2012 on.
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OVERALL IMPACT
Total Deficit Reduction: At least $150 Billion in the first ten years, more in the second decade.
Estimated Economic Impact:1 million jobs created by end of 2011, over $200 billion increase in GDP
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If you think this proposal shows promise, please Like Us on Facebook or Follow Us on Twitter. With enough interest, we can get Congress to consider a bill just like this one.
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www.JobsNowCutsLater.com