Think you might have good ideas on how to balance the federal budget? Well, now’s your chance to solve it! With this budget simulation from The New York Times, you can peruse a menu of possibilities for cutting spending or raising taxes. As you select each item, the interactive feature shows how much money will be saved in both short-term and long-term forecasts.
The idea is pretty simple: read each issue along with its brief description underneath, and if you think, “yeah, let’s cut that,” check the box. When an item is selected, the gray boxes at the top (each representing $1 billion) will turn to blue. The goal is to cut enough spending and/or raise enough taxes to balance the federal budget by both 2015 and 2030.
Today, you’re in charge of the nation’s finances. Some of your options have more short-term savings and some have more long-term savings. When you have closed the budget gaps for both 2015 and 2030, you are done. Make your own plan, then share it online.
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