(“!=” means “Does not equal” to programmers :))<\/p>\n
Reducing the budget deficit is as simple as changing your budget assumptions (in 2015, GDP will grow %7 instead of 3%)… When 2015 comes and your phony assumptions for 2015 become the phony assumptions for 2020 (By 2020, the GDP will grow 13% a year) \u00a0and you kick the can down the road.<\/p>\n
The version of the “Balanced Budget” amendment being floated proposes *eventually* limiting Federal Government spending to 18% of GDP, unless Congress votes not to<\/strong><\/span>. It doesn’t address the spending \/ revenue imbalance, 18% will become a permanent minimum and don’t forget that government spending is included in GDP.<\/p>\n It’s time for the States to write a tough “No Federal borrowing except for a declared war” Constitutional Amendment with no escape clause that lets Congress just vote to ignore it. \u00a0 What’s going on now is like letting the inmates in a prison decide how the prison will be run.<\/p>\n","protected":false},"excerpt":{"rendered":" (“!=” means “Does not equal” to programmers :)) Reducing the budget deficit is as simple as changing your budget assumptions (in 2015, GDP will grow %7 instead of 3%)… When 2015 comes and your phony assumptions for 2015 become the … Continue reading