Or C: as this article points out, explosive economic growth making those two 9% taxes raise more revenue, and an immediate cut in spending of 30%.
If everything we spent in 2000 had increased only by inflation, we’d be spending $1T less this year than we are. $1.8T in FY2000 = $2.4T FY2011 http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1.8&year1=2000&year2=2011
So all we have to do to fix the deficit is to use the FY2000 Budget and adjust all figures by actual inflation. Then let each Department figure out how to work within their budgeted amount.
What if it doesn't? If companies are paying higher taxes, or are being taxed regardless of whether they make money or not, then how will that foster explosive growth?
...and an immediate cut in spending of 30%.
An immediate 30% cut would mean $810 billion in reductions. So what goes under the Cain administration?
So all we have to do to fix the deficit is to use the FY2000 Budget and adjust all figures by actual inflation. Then let each Department figure out how to work within their budgeted amount.
Simple as that, huh? So cut Social Security spending by about 60% and Medicare by 2/3rds and defense spending in half and what exactly do you do away with.