My budget will balance in FIVE years, without touching Social Security. It repeals the Bipartisan Budget Act of 2018 and its trillion-dollar deficits and instead uses the Penny Plan to balance.
What does that mean? It means that next year we will spend 1% less than we spend this year, and for the next five years, until balance is reached between revenues and spending. After that, the budget will begin to grow again at one percent per year instead of cutting.
Sounds simple, right? Would you be able to do with 99% of what you had previously spent if you needed to? Washington will scream and holler, but these are the facts. We are $21 trillion in debt. The deficit is growing again. And it takes only a 1% cut per year for a few years to reverse this and to balance.