They include wasteful subsidies for investors in small business and the restoration of deductions for so-called passive losses by real estate investors.

There are plenty of places to cut the deficit: the bloated defense budget, wasteful subsidies to powerful industries, and unwarranted tax cuts for the wealthiest Americans, for example.

The legislation also includes student aid provisions to expand educational opportunities that reduce the federal deficit by ending wasteful subsidies to banks through the federal guaranteed student loan programs.

With exports strong, politicians have put off deregulating crucial industries and scrapping wasteful subsidies, which make Japan one of the most expensive countries in the world to do business, critics say.

According to the non-partisan Congressional Budget Office, ending these wasteful subsidies will free up nearly $68 billion for college affordability and deficit reduction over the next 11 years.

But support for these wasteful subsidies is waning in both parties, thanks to recent revelations showing just how corrupt and costly the program has become.

Increasingly, fiscal conservatives are opposing wasteful federal subsidies of programs that also damage the environment.

These should be our priorities, not the short term gimmicks, top down dictats and wasteful subsidies of the past.

He has also worked to close offshore tax loopholes and pushed for an end to wasteful subsidies like those that go to the largest multinational oil companies.

For example I do not think it is appropriate to vote in favour of wasteful agricultural subsidies and an increase in entertainment expenses.