About Me

Saturday, March 3, 2012

Articles: Can a Balanced Budget Be Achieved without a Plan?

Articles: Can a Balanced Budget Be Achieved without a Plan?: "For some reason, simple math seems to escape RINOs. To generate enough revenue to pay for our current levels of spending through economic growth, while holding tax rates stable, would require our economy to grow from about $14 trillion annually to about $20.3 trillion. That extra $6.3 trillion means we would need to grow the economy by 45%. That's nearly half again as large as it is now. Yet even optimistic growth estimates are in the 2.5% to 3.5% range. At 2.5%, a 45% total increase would take 15 years. At 3.5%, it would take only 11 years. In either event, the total national debt would continue to grow inexorably to nearly double the current level before we achieved a balance between revenue and spending (or as Obama prefers to call it, investment). "

Highly recommended reading.

No comments:

Post a Comment