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June 5, 2012

Easy to balance the federal budget

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Tonight I'm going to be giving a talk about how it's actually easy to balance the federal budget. In fact, it's easy to balance it in 5 years.

Does that surprise you? You don't exactly hear that in the media, do you?

Did you know that if we simply cut federal spending by 1 percent a year, in the fifth year of doing so the federal budget would be balanced, and federal spending would be about 18% of GDP, which is a hair below the historical average since World War II?

It's not hard to balance the budget. Just cut a single penny out of every federal spending dollar.

Ask youself: Hasn't our family cut our spending more than 1% to cope with the economy the last couple of years? Isn't it reasonable to ask the federal government to cut its budget by 1 percent?

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