Balance the budget in 10 years? Cap spending!

[Wiseacre]

Daniel J. Mitchell writes in a blog over at the Cato Institute website that if we capped federal spending at a 2.5% annual growth, we could balance the budget in 10 years. Would you sign up for that? I would, I'd even go for a 3% spending cap, which is what the EU members are supposed to do with their budgets. Might take longer than 10 years, but it should be clear to everybody that tax hikes alone can't come close to fixing the problem.

1% of our $3.5 trillion budget is $35 billion, so 3% is about $100 billion. I see no reason why we couldn't limit our spending increases to $100 billion/year. Senator Coburn puts out a yearly report that says we waste more than that every year. There are several countries doing this now, IMHO we should be doing the same thing.

 

[Papageorgio]

How about some spending cuts. 5% cut across the board and then a cap, would resolve our problems quicker.

 

[Care4all]

Daniel J. Mitchell writes in a blog over at the Cato Institute website that if we capped federal spending at a 2.5% annual growth, we could balance the budget in 10 years. Would you sign up for that? I would, I'd even go for a 3% spending cap, which is what the EU members are supposed to do with their budgets. Might take longer than 10 years, but it should be clear to everybody that tax hikes alone can't come close to fixing the problem.

1% of our $3.5 trillion budget is $35 billion, so 3% is about $100 billion. I see no reason why we couldn't limit our spending increases to $100 billion/year. Senator Coburn puts out a yearly report that says we waste more than that every year. There are several countries doing this now, IMHO we should be doing the same thing.

Yes, I'd hop on it! Sounds reasonable, even with up coming spending on boomers.....

In the 4 years of fiscal budget spending under obama, keeping the recession in mind so the spending on unemployment, on Tarp, on bailouts, on stimulus, on an increase in welfare such as foodstamps, while still increasing military spending has come to $285 billion over this 4 year period....that comes to only 72 billion average a year under him...

So it seems this guy in your op is correct, and it could easily be achieved.

2009 ending $3.518 spent (this is Obama's beginning)
-----------------------------------------------------
2010- $3.721 spent
2011- $3.630 spent
2012- $3.796 spent
2013- $3.803 requested

 

[EdwardBaiamonte]

Daniel J. Mitchell writes in a blog over at the Cato Institute website that if we capped federal spending at a 2.5% annual growth, we could balance the budget in 10 years. Would you sign up for that? I would, I'd even go for a 3% spending cap, which is what the EU members are supposed to do with their budgets. Might take longer than 10 years, but it should be clear to everybody that tax hikes alone can't come close to fixing the problem.

1% of our $3.5 trillion budget is $35 billion, so 3% is about $100 billion. I see no reason why we couldn't limit our spending increases to $100 billion/year. Senator Coburn puts out a yearly report that says we waste more than that every year. There are several countries doing this now, IMHO we should be doing the same thing.

Yes, I'd hop on it! Sounds reasonable, even with up coming spending on boomers.....

In the 4 years of fiscal budget spending under obama, keeping the recession in mind so the spending on unemployment, on Tarp, on bailouts, on stimulus, on an increase in welfare such as foodstamps, while still increasing military spending has come to $285 billion over this 4 year period....that comes to only 72 billion average a year under him...

So it seems this guy in your op is correct, and it could easily be achieved.

2009 ending $3.518 spent (this is Obama's beginning)
-----------------------------------------------------
2010- $3.721 spent
2011- $3.630 spent
2012- $3.796 spent
2013- $3.803 requested

imagine the huge growth we'd have if we announced with a Constitutional Amendment that we were capping spending at +2.5% a year until the debt and deficit were long gone!!

It would be as if we announced to the world we were going to be the most stable country on earth as a matter of Constitutional law!!!

Only the cancerous, treasonous Democrats prevent this!!

 

[Moonglow]

Daniel J. Mitchell writes in a blog over at the Cato Institute website that if we capped federal spending at a 2.5% annual growth, we could balance the budget in 10 years. Would you sign up for that? I would, I'd even go for a 3% spending cap, which is what the EU members are supposed to do with their budgets. Might take longer than 10 years, but it should be clear to everybody that tax hikes alone can't come close to fixing the problem.

1% of our $3.5 trillion budget is $35 billion, so 3% is about $100 billion. I see no reason why we couldn't limit our spending increases to $100 billion/year. Senator Coburn puts out a yearly report that says we waste more than that every year. There are several countries doing this now, IMHO we should be doing the same thing.

Yes, I'd hop on it! Sounds reasonable, even with up coming spending on boomers.....

In the 4 years of fiscal budget spending under obama, keeping the recession in mind so the spending on unemployment, on Tarp, on bailouts, on stimulus, on an increase in welfare such as foodstamps, while still increasing military spending has come to $285 billion over this 4 year period....that comes to only 72 billion average a year under him...

So it seems this guy in your op is correct, and it could easily be achieved.

2009 ending $3.518 spent (this is Obama's beginning)
-----------------------------------------------------
2010- $3.721 spent
2011- $3.630 spent
2012- $3.796 spent
2013- $3.803 requested

imagine the huge growth we'd have if we announced with a Constitutional Amendment that we were capping spending at +2.5% a year until the debt and deficit were long gone!!

It would be as if we announced to the world we were going to be the most stable country on earth as a matter of Constitutional law!!!

Only the cancerous, treasonous Democrats prevent this!!

you have eyes but you can't see.

 

[Dont Taz Me Bro]

Sounds like a sane and logical thing to do, so of course, Congress won't.

 

[Dont Taz Me Bro]

imagine the huge growth we'd have if we announced with a Constitutional Amendment that we were capping spending at +2.5% a year until the debt and deficit were long gone!!

It would be as if we announced to the world we were going to be the most stable country on earth as a matter of Constitutional law!!!

Only the cancerous, treasonous Democrats prevent this!!

Well, Republicans wouldn't do it either and I'm not so sure that's such a great idea.

 

[EdwardBaiamonte]

Sounds like a sane and logical thing to do, so of course, Congress won't.

its not the Congress is it, but rather the liberals in all 3 branches of government that will not vote to end the insanity with a Balanced Budget Amendment!

 

[rdean]

How about we raise taxes so everyone pays 25%, no exceptions. Stop this bullshit with gazillionaires like Mitt Romney paying, uh, whatever he's paying. He won't tell us. Thinks it's embarrassing.

 

[EdwardBaiamonte]

How about we raise taxes so everyone pays 25%, no exceptions. Stop this bullshit with gazillionaires like Mitt Romney paying, uh, whatever he's paying. He won't tell us. Thinks it's embarrassing.

we're in a depression, we don't want to tax the rich at all since they create the jobs that end depressions!! Eliminate the corporate tax, their prices go way down, demand goes way up, jobs are created, liberals depression is over!!

Liberals are actually so stupid as to hate and punish corporations, and then expect them to end this depression!!

 

[Bfgrn]

Daniel J. Mitchell writes in a blog over at the Cato Institute website that if we capped federal spending at a 2.5% annual growth, we could balance the budget in 10 years. Would you sign up for that? I would, I'd even go for a 3% spending cap, which is what the EU members are supposed to do with their budgets. Might take longer than 10 years, but it should be clear to everybody that tax hikes alone can't come close to fixing the problem.

1% of our $3.5 trillion budget is $35 billion, so 3% is about $100 billion. I see no reason why we couldn't limit our spending increases to $100 billion/year. Senator Coburn puts out a yearly report that says we waste more than that every year. There are several countries doing this now, IMHO we should be doing the same thing.

Yes, I'd hop on it! Sounds reasonable, even with up coming spending on boomers.....

In the 4 years of fiscal budget spending under obama, keeping the recession in mind so the spending on unemployment, on Tarp, on bailouts, on stimulus, on an increase in welfare such as foodstamps, while still increasing military spending has come to $285 billion over this 4 year period....that comes to only 72 billion average a year under him...

So it seems this guy in your op is correct, and it could easily be achieved.

2009 ending $3.518 spent (this is Obama's beginning)
-----------------------------------------------------
2010- $3.721 spent
2011- $3.630 spent
2012- $3.796 spent
2013- $3.803 requested

imagine the huge growth we'd have if we announced with a Constitutional Amendment that we were capping spending at +2.5% a year until the debt and deficit were long gone!!

It would be as if we announced to the world we were going to be the most stable country on earth as a matter of Constitutional law!!!

Only the cancerous, treasonous Democrats prevent this!!

Only if you believe blood letting cures anemia...

Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.
Edmund Burke

PLEASE explain how our debt had anything to do with the financial crash, and the hemorrhaging of jobs?

 

[EdwardBaiamonte]

PLEASE explain how our debt had anything to do with the financial crash, and the hemorrhaging of jobs?

1) the subject was about cancerous treasonous liberals preventing a simple common sense end to the debt/deficit crisis

2) when we have debt the Chinese and Japanese can buy it rather than our goods and services thus creating unemployment in the USA.

As a liberal you will find that way way over your head!!

 

[Bfgrn]

PLEASE explain how our debt had anything to do with the financial crash, and the hemorrhaging of jobs?

1) the subject was about cancerous treasonous liberals preventing a simple common sense end to the debt/deficit crisis

2) when we have debt the Chinese and Japanese can buy it rather than our goods and services thus creating unemployment in the USA.

As a liberal you will find that way way over your head!!

1) WHEN did conservatives and Republicans EVER worry about debts or deficits when they had control of all branches of government for almost a decade?

There was not a fucking PEEP from the right about debt when Reagen raised the debt ceiling 19 times or George W. Bush raised it 7 times. It was not until a Democrat won the White House...NOW, the party that CREATED the debt says it has be done in a way that will cause death and destruction to the middle class and poor.

'You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due.'
VP Dick Cheney to Treasury Secretary Paul O'Neill in 2002

 

[EdwardBaiamonte]

1) WHEN did conservatives and Republicans EVER worry about debts or deficits when they had control of all branches of government for almost a decade?

too stupid!! in office does not mean in control. The next election is always decided by the party opposite and independents. Barry had a super majority and could not get a public option let alone single payer. Over your head???????????

 

[Bfgrn]

1) WHEN did conservatives and Republicans EVER worry about debts or deficits when they had control of all branches of government for almost a decade?

too stupid!! in office does not mean in control. The next election is always decided by the party opposite and independents. Barry had a super majority and could not get a public option let alone single payer. Over your head???????????

Which tells us WHAT? That the Democratic Party is NOT controlled by liberals or progressives.

And that Obama is not a socialist.

But all that is besides the point. There was not a fucking PEEP about debts or deficits from the right when Bush was in the White House, or when Reagan was in the White House.

 

[EdwardBaiamonte]

1) WHEN did conservatives and Republicans EVER worry about debts or deficits when they had control of all branches of government for almost a decade?

too stupid!! in office does not mean in control. The next election is always decided by the party opposite and independents. Barry had a super majority and could not get a public option let alone single payer. Over your head???????????

Which tells us WHAT? That the Democratic Party is NOT controlled by liberals or progressives.

And that Obama is not a socialist.

But all that is besides the point. There was not a fucking PEEP about debts or deficits from the right when Bush was in the White House, or when Reagan was in the White House.

too stupid!!! That's because when Newt tried it he got his head handed to him!! NOw they lay low waiting for another opportunity just like Barry is waiting for an opportunity to introduce single payer!!

Ask yourself, are you bright enough to be here??