Thursday, February 23, 2012

My balanced budget proposal

It's been a long time but here's my new and exciting balanced budget proposal.

Option 1:  Grow government spending at the average cost of living adjustment for SS over the last decade - 2.5% per year.

Option 2:  Grow government spending at the rate that government spending grew during the two terms of the Clinton administration (FY 1993 to FY2001) - 2.6% per year.

In both options, leave tax policy unchanged.  In other words, leave the Bush/Obama tax cuts in place, keep patching the AMT, don't add any new taxes beyond those currently in place.

Deficit in 2022?

Under Option 1, it would be -$2 billion (aka a surplus)

Under Option 2, it would be $45 billion (aka pretty much a wash).

Under the President's budget, it would be $704 billion (aka not a surplus).

Funny isn't it.

No comments:

Post a Comment