I don’t think the country is ready for a 40% cut overnight.
Tee country WOULD support a 2012 budget = 2011 budget + 2%(inflation). I’d even compromise and add something for population increase. This is about 9X more than even the most radical Republican is talking about right now but it could be sold if the public can be taught that the CBO scoring is total B.S.
This is no criticism of the CBO BTW. They are only using the rules Congress gave them.
RE: I don’t think the country is ready for a 40% cut overnight.
Well if that’s the case, we’ll have to borrow more money.
Someone’s got to pay for all these spending... and economics Prof. Walter Williams of George Mason Uni. calculated that even if you TOOK ALL the money from everyone in the USA earning above $250,000, that will only pay for 141 days a year of spending. That leaves still leaves the next 224 days with no money.
RE: Tee country WOULD support a 2012 budget = 2011 budget + 2%(inflation).
Why should we use 2011 as the baseline for the 2% increase?
2011 INCLUDED CRISIS EXPENDITURE, TARP and QE1 and QE2. The crisis is supposed to be over and those years are supposed to be emergency years. Why are we still operating on emergency budgets?
We should be going back to the beginning of 2009 budget as baseline.