Debt to grow by $7T over 10 years you say?

[auditor0007]

It's a not very funny joke the way they always punt the cuts to the next guy. It looks like these cuts take effect 2013, and I'll guarantee that if the obama somehow wins in 2012, that will be punted again until 2017.
Making them accountable makes sense to me, and what you suggest sounds reasonable. I would add that it has to balance at the end of the 4yrs. No accounting bullshit numbers either, real life money.

I agree; no tricks; no counting savings as income...take your tax receipts from the year before and thats your budget. If the economy grows, your actual tax receipts should be larger in the actual calendar year. Use the Inaugural year as the benchmark for all 4 years even though the receipts will be larger. In the fifth year the re-elected President or the new POTUS does the same for the next 4 years. Sis boom bah.

And what happens when we hit a recession, and revenues plummet? In 2009, we collected $400 billion less than in 2008.

 

[candycorn]

It's a not very funny joke the way they always punt the cuts to the next guy. It looks like these cuts take effect 2013, and I'll guarantee that if the obama somehow wins in 2012, that will be punted again until 2017.
Making them accountable makes sense to me, and what you suggest sounds reasonable. I would add that it has to balance at the end of the 4yrs. No accounting bullshit numbers either, real life money.

I agree; no tricks; no counting savings as income...take your tax receipts from the year before and thats your budget. If the economy grows, your actual tax receipts should be larger in the actual calendar year. Use the Inaugural year as the benchmark for all 4 years even though the receipts will be larger. In the fifth year the re-elected President or the new POTUS does the same for the next 4 years. Sis boom bah.

And what happens when we hit a recession, and revenues plummet? In 2009, we collected $400 billion less than in 2008.

Yeah good point.

I think you could put some of, what they called during the Iraq War Funding debates, supplemental spending bills that are matched dollar-for-dollar with either tax hikes or out of the original quadrennial budget.

No doubt the 4 year trek is a tougher road to go down but at least we're not scrapping everything debated and negotiated today in 730 days (thats 2 years) or less. I mean we have a 10 year agreement to cut $1T. By 2014, the Congress will look a lot different and nobody will give 2 shits about the actions of this past week. That is just the reality of the beast.