Wednesday, November 14, 2012

Deficit Hawk: A cool federal budget app

So due to my being a bit of a public policy nerd on top of my enjoyment of technology I started playing around with an app on the Google Play Store called 'Deficit Hawk'. A friend of mine had suggested it, and I must say its a neat little app. It takes CBO projections, and possible choices that cover new revenues as well as cuts and allows you to attempt to set a budget plan. It's incredibly easy to use, and gives you a nice graph so you can see how you are doing.

The plan I created when messing around with it is below:




----- NEW SPENDING CUTS -----

$-88.0 billion over ten years - Add a Public Plan to the Health Insurance Exchanges

$-88.5 billion over ten years - Apply the Social Security Benefit Formula to Individual Years of Earnings

$-112.0 billion over ten years - Base Social Security Cost-of-Living Adjustments on an Alternative Measure of Inflation

$-2.0 billion over ten years - Charge transactions fees to fund the Commodity Futures Trading Commission

$-4.8 billion over ten years - Drop Wealthier Communities from the Community Development Block Grant Program

$-20.8 billion over ten years - Increase Fees for Aviation Security

$-26.5 billion over ten years - Increase Guarantee Fees Charged by Fannie Mae and Freddie Mac

$-241.2 billion over ten years - Increase the Basic Premium for Medicare Part B to 35 Percent of the Program's Costs

$-85.6 billion over ten years - Limit Highway Funding to Expected Highway Revenues

$-62.4 billion over ten years - Limit Medical Malpractice Torts

$-84.6 billion over ten years - Link Initial Social Security Benefits to Average Prices Instead of Average Earnings|Implement progressive price indexing

$-124.8 billion over ten years - Raise the Age of Eligibility for Medicare to 67

$-119.9 billion over ten years - Raise the Full Retirement Age in Social Security

$-642.0 billion over ten years - Reduce Growth in Appropriations for Agencies Other Than the Department of Defense|Freeze Funding at 2011 Level

$-610.7 billion over ten years - Reduce the Growth in Appropriations for the Department of Defense|Freeze Funding at 2011 Level

$-112.0 billion over ten years - Require Manufacturers to Pay a Minimum Rebate on Drugs Covered Under Medicare Part D for Low-Income Beneficiaries

$-3.6 billion over ten years - Transfer the Tennessee Valley Authority's Electric Utility Functions and Associated Assets and Liabilities


----- NEW REVENUE -----

$309.5 billion over ten years - Accelerate and Modify the Excise Tax on High-Cost Health Care Coverage

$96.1 billion over ten years - Expand Social Security Coverage to Include Newly Hired State and Local Government Employees

$241.4 billion over ten years - Extend the Period for Depreciating the Cost of Certain Investments

$70.9 billion over ten years - Impose a Fee on Large Financial Institutions

$456.8 billion over ten years - Increase the Maximum Taxable Earnings for the Social Security Payroll Tax

$1.2 trillion over ten years - Limit the Tax Benefit of Itemized Deductions to 15 Percent

$48.7 billion over ten years - Raise Tax Rates on Capital Gains


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In any case if you have an interest in public policy, and you enjoy playing around with neat apps on your phone or tablet I suggest giving this a go.

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