Skip to comments.Paul Ryan Working on a Budget That Balances in 10 Years
Posted on 01/23/2013 8:35:24 AM PST by SeekAndFind
House Budget Chairman Paul Ryan is working on a budget that a spokesman says will balance in 10 years, according to a spokesman.
Chairman Ryan looks forward to working with his colleagues to draft a responsible budget by the April 15 deadline. He hopes last weeks agreement helps spur action by his Senate counterparts to do the same, Budget Committee spokesman Will Allison said. With the right reforms put in place, Chairman Ryans goal is to advance a budget that balances within a decade.
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I could balance the budget in one year - but there would be a whole bunch of really pissed off EBT’ers, EITC’ers, Section 8’ers, et al....
Another phony budget based on unrealistic projections.
Congress cannot commit to a ten year plan. No future Congress is bound by it. Anything slated for more than one year needs to front load most of the cuts into the first year.
Fix the unemployment problem and tax revenues will soar, outlays will fall and the budget will be a lot easier to balance.
Or do what you did last year. Try to arbitrarily cut entitlements without first addressing the underlying economic problems and watch the democrats win elections.
Where the hell was he two years ago?? He could balance it in 40 years then and two or three trillion in spending later he can balance it in ten years??
Two years ago, at their strongest point, they were scared. Now at their weakest point, their bold.
Should have listened to Bachmann then, but she was a conservative and had to be marginalized!
Balance the budget in 1 year and begin a flat tax of 13%
Watch the economy take off.
What cuts are goig to be made during THIS session of Congress.
Enough with the smoke already, it's coming out my ears for a number of reasons.
Ten year plan means nothing, the next congress is not bound by this “plan”.
Just balance the budget this year, its easy CUT!!!! spending.
When Obama was racking up $1.6T in annual deficit spending, Ryan put forth a "bold" plan to cut $50B a year over 10 years. It was a joke, but I think many people didn't see it for what it was. They said it was "draconian". HA!
Bottomline: Have a plan for next year. Don't give me any of this "10 year Plan" crap. You have no control over that, and you know you have no control over it. When a congressman talks about "10 years" I know that they are trying to snow me.
Agreed! But don’t just “balance” the budget cut spending enough that the national debt can start being paid down!!
Ron Paul had a budget on his election web site that would fix the deficit in about five years.
In other words, keep running budget deficits for another decade or more. Pffffftttt!!!
I say we take the extra money we need to pay down the debt from the Union Pension funds....ha ha....
The simplest way to get a balanced budget that will turn into a surplus in later years is to start at a less insane spending level (say, FY 2008) and increase the total budget by 2% per year. Even at anemic growth, the economy will outpace that in the long run; eventually the budget balances and moves into surplus.
Has as much of a chance passing as I do *&^ing Pamela Anderson.
The National Debt CAN NEVER BE PAID DOWN, All money in the US is “created” out of debt, first at the Federal Level, and second at the Commercial Bank Level where that debt is used as the basis to “create” roughly $9 to be lent out for each $1 of DEBT actually held. Were we to actually “Balance” the Budget we would instantly be in a Depression, should we attempt to pay down any Federal Debt, severe Depression is Guaranteed, All of this is by Design by the Moneychangers and their Puppets in Congress. The single greatest reason Obama is racking up Record Deficits is because the People are Shedding Debt enmasse, our Monetary System “REQUIRES” an ever expanding DEBT, if the People Don’t Borrow, Government MUST make up the Difference. Unless of course You think we are ready to back to 19 cent loaves of bread and $25,000 Brand New homes, $2500 New Cars,...Like it was Before Nixon Officially recognized the Bankruptcy of the US in 1971.
In 10 years the deficit would be 75 trillion if that were possible to maintain.