eflatminor
Classical Liberal
- May 24, 2011
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Just a thought, but where would you think the government needs to cut spending?
You neglected to offer an "all of the above" choice in your poll.
Specifically, I endorse the Mack Penny Plan.
The Mack Penny Plan would balance the federal budget in eight years by cutting one penny out of every federal dollar spent for six years and capping spending at 18% of GDP beginning in the seventh year. If Congress fails to make the necessary cuts, the plan triggers automatic, across-the-board cuts to meet the yearly caps.
It's basically a phasing in of learning to live within our means. We currently collect just over $2 trillion in tax revenue. We managed to live just fine on that amount less than 10 years ago. We can live on it today. Besides, passing debt to those yet to be born so we can live large is immoral, IMO.