Posted on 01/03/2018 10:19:50 AM PST by SeekAndFind
This is the guy Reagan “took to the woodshed”, and he hasn’t said a positive thing about conservatism since.
It’s all right with me if it closes for a couple years.
It’s all right with me if it closes for a couple years.
Congress will never stop spending money they don’t have.
They like operating on CRs because they can more easily hide the graft.
We need a new Congress.
CANTORIZE YOUR WEASELS, AMERICA!
Stockman is one of the few voices of fiscal sanity around these days. The GOP naturally F-—d up by cutting taxes before cutting spending. Of course it’s easy to give big tax cuts and not so easy to figure out how to pay for them.
RE: This is the guy Reagan “took to the woodshed”, and he hasn’t said a positive thing about conservatism since.
I hope you’re not equating the GOP with conservatism because it is NOT.
Nobody is going to stop the joy ride. The Fed or the Congress will print as much money as necessary “forever”, which is the day bond holders all simultaneously run for the exits and America crashes.
In the mean time, what matters is Growth. Tax cuts will cause growth. Growth will cause greater tax receipts and lower spending outlays (welfare), so that the day of reckoning is delayed.
So don’t go blaming tax cuts for fiscal insanity. Tax cuts ameliorate and delay an issue that will nonetheless “come home to roost!”
Yes, he’s been a whiny bitch since then.
As if the “shovel ready” stimulus was anything but a liberal slush fund...
I agree with some of what this guy is spewing. The Fed is out of control. But I’m willing to give Trump a couple of years to see if he can figure it out.
Regardless, we do need to dramatically cut federal spending and start paying down the debt. I think (hope) Trump is going to put that plan in motion in 2018.
“give big tax cuts and not so easy to figure out how to pay for them”
So, when the government stops stealing my money at confiscatory rates at the point of a gun, they are “giving” me something?
Is that like when the thief still takes all your money and credit cards but lets you keep your billfold, he’s “giving” you your wallet back?
And if a policeman stops the thief from taking my hard earned money, how will the policeman “pay” the thief for the reduction in the thief’s income?
Gosh, is this a government of, by and for the people,
OR
a people of, by and for the government?
David Stockman, Paul Krugman & most of the other “expert” blowhards have all proven to be failures. They have done nothing but spout hot-air theories. Yet their theories are spouted as credible.
Donald J Trump has actually built a successful business empire. Going back to his interviews from decades ago, he has proposed changes that would Make America Great Again. In the limited time as POTUS, Trump’s “theories” on making government work, actually seem to be working bigly. So, why the HELL is anyone listening to David Stockman & NOT listening to PDJT? When does Trump get is due?
Why don’t they get out of his way & let Trump #MAGA even more?
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
-- Thomas Jefferson
RE: Regardless, we do need to dramatically cut federal spending and start paying down the debt.
For this, I recommend the PENNY PLAN.
Also known as the One Cent Solution, the Penny Plan is a proposal to trim the federal budget by one cent for every dollar spent (excluding interest payments on the national debt).
It was first proposed by then, Florida Congressman Connie Mack.
According to Connie Mack:
1. It Would Cut Federal Spending By One Percent for Six Consecutive Fiscal Years.
The Penny Plan would require Congress to cut just one penny out of each dollar it spends every year for six years. These gradual cuts over the next six years will balance the federal budget.
2. It Would Cap Overall Spending at 18 Percent of Gross Domestic Product (GDP) Starting in Fiscal Year 2018.
Congressional spending consumes approximately 25 percent of GDP. Federal revenue from taxes over the past 40 years has averaged about 18 percent of GDP, making 18 percent a reasonable limit for spending if Congress is in fact interested in balancing the budget for the long haul.
3. It is a Very Simple Plan.
The Penny Plan is simple and straight to the point. Cutting federal spending by one percent every year for six years is clear enough for everyone to understand. Unlike many Washington schemes, it’s not a complicated proposal.
3. It Would Reduce Overall Federal Spending by $7.5 trillion over the Next Ten Years.
Federal spending has risen to unprecedented levels which threatens our economic freedom. The Penny Plan would significantly cut government spending overtime and set us on the path towards fiscal responsibility.
4. It Would Balance the Federal Budget by 2019.
The current U.S. budget deficit is an unprecedented $1.6 trillion. The Penny Plan would bring the federal budget into balance this decade.
5. It is a Popular Idea with the American People.
The majority of Americans support balancing the federal budget. The Penny Plan which would balance the federal budget by 2019 should gain widespread support.
6. It is a Modest Plan.
The Penny Plan is far from radical. These gradual cuts are more likely to gain bipartisan support rather than a big dramatic cut. With our national debt at $14.4 trillion, everyone should agree that we can cut just one percent of federal spending over the next six years.
7. The Plan Contains No Gimmicks or Budget Tricks.
The Penny Plan would cut real spending. Many other proposals only “cut” spending from a bloated Congressional Budget Office (CBO) baseline. The CBO baseline predicts what would happen over the next decade given current projections of taxation and spending. These plans don’t actually reduce spending since these “cuts” are just reduction in the amount they had hoped to increase spending. The Penny Plan would cut from current amounts being spent and not anticipated spending off a phony baseline.
8. It Gives Congress Some Discretion on What to Cut.
The one percent spending cuts will be achieved one of two ways. The first way is that Congress and the President could work together to cut federal spending by one percent each year. This will allow them to prioritize what cuts are the most important.
9. It Will Trigger Automatic, Across-the-Board Spending Cuts If No Deal Can Be Reached.
The second way that the Penny Plan reduces spending is through an automatic, across-the-board cut. If Congress and the President are unable to reach a compromise, the bill triggers automatic, across-the-board spending cuts to guarantee that the one percent reduction is met. This plan would then force lawmakers to cut any of their sacred cows.
10. It Will End Washington’s Unprecedented Spending Spree.
The Penny Plan will ensure that Washington cuts spending and balances the federal budget. We cannot afford to continue Washington’s reckless spending spree. It’s a good step in the right direction to get our fiscal house in order.
.... Well, as fate would have it, he was the Republican nominee for Senate in 2012, but lost to Democratic incumbent Bill Nelson.
This plan has not been tried and found wanting, IT HAS NEVER BEEN TRIED AT ALL !!
That is one of my favorite, fake quotes by Jefferson.
There aint no such thing as a free army and navy.
"And I sincerely believe with you, that banking establishments are more dangerous than standing armies;..."
-- Thomas Jefferson, in a letter to John Taylor, 1816.
I shall remove the rest of it from my list immediately.
bkmk
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