By: Terresa Monroe-Hamilton
For those of you who may have forgotten and for those of you who possibly never knew, regardless of what you are hearing in the news, there are NO spending cuts. There are only “budget” cuts. The “natural” progression of expenditures in Washington, having its own localized financial physics, is that every budget item everywhere in the budget, always increases every year. And any failure to increase the amount by the full expected amount, is scored by the CBO as a budget cut. To the point, where if you simply did nothing more than freeze Washington’s budget at exactly the figures they are today, cutting nothing, the CBO would score this as a 9 Trillion dollar “budget cut” over the next 10 years. Imagine adding to that the 1% across-the-board cut that Connie Mack is putting forth. It would balance the budget and save America. Evidently, this is “too simple” for our politicians for the most part to understand.
The Penny Plan balances the budget by:
- Cutting total federal spending by one percent each year for six consecutive years,
- Setting an overall spending cap of 18 percent of gross domestic product in 2018, and
- Reducing overall spending by $7.5 trillion over 10 years.
If Congress and the President are unable to make the necessary cuts, the bill’s fail-safe triggers automatic, across-the-board cuts to ensure the one percent reductions are achieved.
Put this plan into place. Stop the Armageddon spending spree and knock off the destruction of America. We know what you are doing. We are being played and lied to. We are coming for you.