Posted on 08/02/2019 6:10:11 AM PDT by BBB333
Sen. Steve Daines (R-MT) told Breitbart News in an exclusive statement Thursday that he will introduce “common sense” legislation to better project the cost of federal budgeting by including the interest cost of government spending.
Sen. Daines introduced the Budgetary Accuracy in Scoring Interest Costs (BASIC) Act Thursday, which would require both the Congressional Budget Office (CBO) and the Joint Committee on Taxation to include projected interest expenses associated with legislative proposals. Daines said that including interest is necessary to accurately account for the budgetary cost of the legislation.
Sens. Rand Paul (R-KY) and David Perdue (R-GA), two fiscal hawks, also cosponsored Daines’ BASIC Act. Daines’ legislation arises as the Senate passed a two-year budget agreement,that would increase federal spending by $320 billion over two years.
The federal government requires both the JCT and CBO to provide budgetary and revenue scores to legislation; however, they both do not account for interest expenses, which often result in the agencies underestimating the cost of legislation.
The Montana conservative, who voted against the two-year budget agreement, said he introduced this bill to help lawmakers bring down the debt.
“It’s no secret Washington, DC, has a massive spending problem and debt crisis,” Daines said in an exclusive statement to Breitbart News. “Just today the Senate approved a deal to increase spending by more than $300 billion with few offsets, and suspend the debt ceiling for two years with absolutely no reforms to bring fiscal sanity to Washington. It’s long overdue and basic common sense that the American taxpayers have all the information about how much DC is driving up the debt. That’s why I introduced this bill.”
(Excerpt) Read more at breitbart.com ...
At least we’re not at 200 percent debt to GDP like Japan.
Yet.
So those in Congress don’t know that when you don’t pay off the balance on a credit card, interest is added on to your debt? Why is the government allowed to operate in another world than the rest of us?
Whatever it takes. We were not born to be your debt slaves.
Socialism Is Legal Plunder - Frederic Bastiat 1801-1850
1/20/2009 - $10,626,877,048,913.08
1/18/2013 - $$16,432,617,424,703,.06
1/20/2017 - $19,947,304,555,212.49
2 days ago - $22,550,875,791,423.00
Yesterday - $22,555,374,363,674.00
Today - $22,557,502,985,390,00
— That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. - Declaration
List of Grievances:
1. OUTRAGEOUS debt.
2. Aiding and abetting invaders.
>
So those in Congress don’t know that when you don’t pay off the balance on a credit card, interest is added on to your debt? Why is the government allowed to operate in another world than the rest of us?
>
Same way they can ‘exempt themselves from the same Laws We live under, “legally” run Ponzi schemes that would get any one of us YEARS in the gray-bar hotel: We’re no longer a Constitutional Republic.
Daines hasn’t lifted a finger to help stem the illegal alien invasion.
He’s trying to get re-elected and hide his being a Bush League Republican.
“Daines hasn’t lifted a finger to help stem the illegal alien invasion.
He’s trying to get re-elected and hide his being a Bush League Republican.”
I know the man, I know his father, he’s NO Bush league republican.
Then why isn’t he helping to stem the invasion?
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