Balancing the Budget with Tax Cuts and Defense Spending Increases
PGL at Econospeak points us to
Charles Riley of CNNMoney has a must see graph showing how defense spending under Mitt Romney would compare to the current DOD baseline budget over the next decade. His title notes the spending over the next decade will exceed the baseline budget by more than $2 trillion. I like this:
Romney has proposed a slew of tax cuts, and plans to cap federal spending at 20% of GDP. But in both cases, the Romney campaign hasn’t fully explained how those provisions will be paid for. The lack of detail means that Romney’s claim of moving toward a balanced budget requires a great deal of trust.
But no one should trust Mitt Romney on fiscal matters. No one.
Horses for the calvary have been greatly reduced since 1900 and someone lost the entire inventory of small muzzle loading arms.
USA! USA! We’re #1!
Wait, we’re already #1!
Why are we supposed to do this again?
Hey cmon. Once Mitty mitt gets elected he’ll turn the USG into a massive hedge fund! A few rounds of downsizing and voila we’ll be able to take the whole thing private. There will still be plenty of bidders among his supporters. What’s the problem?
Hey cmon. Once Mitty mitt gets elected he’ll turn the USG into a massive hedge fund! A few rounds of downsizing and voila we’ll be able to take the whole thing private. There will still be plenty of bidders among his supporters. What’s the problem?
Hey cmon. Once Mitty mitt gets elected he’ll turn the USG into a massive hedge fund! A few rounds of downsizing and voila we’ll be able to take the whole thing private. There will still be plenty of bidders among his supporters. What’s the problem?
Some say the world will end in fire,
Some say in ice.
From what I’ve tasted of desire
I hold with those who favor fire.
But if it had to perish twice,
I think I know enough of hate
To say that for destruction ice
Is also great
And would suffice.
Oh Hell! Even FDR ran on a “Balance the Budget” platform. It is all BS and Bad Numbers. The only guy who even got close to balance was Big Bad Bill and even he was using BS and Bad Numbers. Why can’t Wrongney just say he will veto any bill that goes over baseline. Someone pick a baseline. Please.
Anyone know what programs Wrongney is going to spend that increase in the war budget on? Do we need more tanks to prevent the Red Army charging through the Fulda Gap? Maybe the Chinese will charge there insead of the Red Army. I think the Chinese have the only Red Army left. The Russians can charge them transit fees. Maybe we need 12 more Carrier Battle Groups to counter that one pitiful Chinese flat top? The world wonders.
Who was the last Republican not to blow out the budget deficit? I think it was Ike. For the past 50 years or more, there’s been a simple syllogism. Romney or whoever is a Republican. Republicans cut taxes, increase spending and borrow the difference. Therefore, Romney or whoever will cut taxes, increase spending and borrow the difference. Why would anyone expect anything different?
http://research.stlouisfed.org/fred2/series/FDEFX