Big Bo
Registered
Connie Mack of Fl has a plan where we reduce ~real~ spending 1% a year, and if we do so, within 5-6 years we'll be balanced. Congress has the option of determining how to reduce spending by 1%, but if they don't the plan calls for an across the board 1% reduction in spending.
It works because "baseline" is about a 7% per year increase in spending. So while other plans are claiming to save $X trillion, it's savings from baseline, which predicts about $9-10 trillion in deficits over the next 10 years.
It sounds pretty fair to me, sounds like it would be pretty easy to implement and not overly painful to anyone. Many businesses get 1% more efficient every year, and 1% cuts per year isn't going to be a big shock to our system.
Here's one article on it: Freedom Works Supports Mack Penny Plan -- WASHINGTON, July 22, 2011 /PRNewswire-USNewswire/ --
Something has to be done to cut spending.
It works because "baseline" is about a 7% per year increase in spending. So while other plans are claiming to save $X trillion, it's savings from baseline, which predicts about $9-10 trillion in deficits over the next 10 years.
It sounds pretty fair to me, sounds like it would be pretty easy to implement and not overly painful to anyone. Many businesses get 1% more efficient every year, and 1% cuts per year isn't going to be a big shock to our system.
Here's one article on it: Freedom Works Supports Mack Penny Plan -- WASHINGTON, July 22, 2011 /PRNewswire-USNewswire/ --
Something has to be done to cut spending.
