Colin Hanna Let Freedom Ring Thank YOu!!!!!!!!!!!!
You all note that the SOB Obama is out whinning about this proposal. You see...he has no authority over a constitutional amendment. The president has no say in it at all.
Wanna poke a finger in his eye? Then get this passed and on to the states. Then badger your states to pass it.
I have not seen any specific cut items from the GOP nor the DEMs. Why doesn’t someone on FR start a thread on this. You guys could come up with some great specifics that need the knife.
While I support the concept of a Constitutional requirement for a balanced federal budget, it's an entirely unnecessary distraction at this point.
House Republicans have 100% control over this right now - all they have to do is NOT vote to extend the debt ceiling and, Presto! Instant balanced budget, and there is not a damn thing Obama can do about it.
Do they have the sack for it though? We'll see.
We already have a statutory spending cap. How is that working? How well has that done over the years? Hold the line. Pay our debts first. Be responsible. We'll keep our AAA rating if we do that. And we don't have to do anything but not take a vote.
IMHO...
Here are my cuts that reduce the deficit by 3/4 the first year:
Education__________________ $129.8 billion
Transportation (I propose
a limit of $10 billion)_________ $84.5 billion
Basic research______________ $18.7 billion
Agriculture, forestry
, fishing and hunting _________ $32.8 billion
Fuel and energy_____________ $26.9 billion
Pollution abatement_________ $10.9 billion
Protection of biodiversity
and landscape_______________ $13.9 billion
Housing development_______ $35.5 billion
Community development_____ $25.7 billion
Recreational and
sporting services_____________ $4.1 billion
General Government
(I propose cutting the
current amount in half)_______ $16.6 billion
Welfare (eliminate)_________ $495.0 billion
Grants to States
for Medicaid________________ $276.2 billion
R & D Health
(includes NIH)______________ $36.1 billion
Total reduction to annual
spending_________________ $1,206.7 billion
Then here’s my Amendment offering, which could take effect within a couple of years after being ratified by the States. It would constrain the ability to borrow - which would constrain the Federal government spending automatically - it could only spend what it takes in (what a novel idea).
This amendment would limit borrowing term to one year and require that the funds be used to pay for goods, not labor - with the exception of declared wars by Congress, so borrowing can not be used to fund the paychecks of Federal employees OR contractors - voila, control the headcount increases in government to just what government takes in !
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Congress shall only have the power to borrow money on the credit of the United States where the term of the debt issued is not more than one year, and those funds must be used to purchase goods; said funds shall not be used to pay employees of the Federal government nor shall they be used to pay labor costs associated with goods or services that the Federal government purchases.
In time of War, where such War is declared by Congress, Congress shall have the power to borrow money where the debt issued is used solely for any military combat purpose specifically related to Wars so declared. Until such War debt is repaid fully, any increase in the total annual expenditure of the Federal government shall be prohibited.
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too big to fail strategy has failed in every instance. Let the defaults begin