Kentucky Sen. Rand Paul Intros ‘Six Penny Plan’ To Balance Federal Budget In 5 Years

Tampa ^ | Sep 20 | Wendy Vasquez

[Leaning Right]

> More likely the Federal Reserve will inflate our currency. So the dollar will slowly become worthless. <

If the Fed decides to hyperinflate over time, it will be like the frog in a pot of water that’s slowly being brought to a boil. Folks might grumble, but life goes on.

But if the Fed decides to kick the can down the road until the last minute, look out below! Spend your last dollar on a lottery ticket, then hope for the best.

[OakOak]

What excuse did these same Republicans (Massie for one) give for raising the Debt Ceiling for Joe Biden and moving the next Debt Ceiling out until after his last Election in the lame duck period?

Actions speak louder than words. There was always an excuse to support Biden and the big spending. Same people said, we can’t impeach him, that’s against our principles. Of course, it all also kept the spending orgy alive.

[MinorityRepublican]

If the Fed decides to hyperinflate over time, it will be like the frog in a pot of water that’s slowly being brought to a boil. Folks might grumble, but life goes on.

I think this is the likely strategy. There is no political will for "austerity". That is the best thing to do. Some painful cuts. But it's not possible.

The Fed already lowered interest rates. That's the wrong move because we're trying to contain inflation. But we're having a difficult time paying debt. But now it's easier to pay off debt.

[OakOak]

We are doomed by the Swamp. There is zero accountability for their votes and actions, and they are well aware.

They had an Ukraine day Celebration the other day and the so called fiscal hawks attended the parties.

[Dr. Sivana]

Why six penny when you can just abolish unconstitutional agencies?

Once you account for some of the unmovables, like Social Security (25% of budget), Medicare/Medicaid (20%) and Interest on the Debt (13%), it becomes clear that eliminating some of the departments would be necessary just to get the 6%. Education, Commerce and Energy all together would only be 2%.

[onona]

August 2024 tax revenues were the highest ever in the USA.

it's not the income Sen Rand...

[Nateman]

Only once in American history has the Federal debt been zero. That was under Andrew Jackson. It should be obvious by now our National Debt is a systemic problem. Milton Friedman showed that the cure is a Balanced Budget Amendment. Only using Article V is going to make that happen. There is no way Congress will limit its ability to spend money.

[camle]

i said this years ago...’bout time! only keep it going for a few years after the budget balances to shrink government.

[Wuli]

I have a better idea. Gut some Federal Departments and all there programs wholesale, such as Dep of Ed and HUD. Those two departments alone would get Rand’s six percent cut, permanently.

In the second year gut all “entitlements” that are not part of social security, medicare or medicaid. That would reduce $1.2 trillion in spending.

Then in the third year shrink all the non-defense related agencies.

You could get to a balanced budget in 3 years. But don’t leave it at that. Dedicate budgeted amount each year for paying off amounts of the debt, until interest on the debt is not a major signifcant budget item. It is better to spend the money that way - paying off debt, than simply continuing to spend so much on interest payments alone (about $700 billion currently).

[Vaduz]

The greatest threat to our national security is our national debt.

It’s why the democrat party keeps bribing for votes Bolsheviks have a plan.

[PghBaldy]

Does it involve a midget and a block of ice?