[rodguy911]

Ironically the penny plan which has everything we need would work.

Just cut the budget, if we ever get another one to cut,1% per year for ten years and stop the insane automatic increases and we balance in almost no time at all.

It would be near painless,do much to save not only the country but the financial system of the world. Yet this simple plan would face huge opposition by the big spenders in congress probably on both sides.

[kabar]

Ironically the penny plan which has everything we need would work.

Not so easy. The entitlement programs are driving the debt. Their costs will continue to increase as the baby boomer generation retires at 10,000 a day for the next 20 years. Right now they constitute about 60% of the budget consuming all tax revenue. We borrow 42 cents of every federal dollar spent.

By 2030 one in five residents of this country will be 65 or older, twice what it is now. And by 2030 there will be just 2 workers for every retiree. Taking a cent away each year will just squeeze non-discetionary items including Defense while the entitlement programs consume an ever increasing portion of the budget both in terms of percentage and costs. We need to reform entitlements otherwise taking a penny a way every year will not solve the problem.