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Back to a Balanced Federal Budget

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Posted By: GustoGrabber, 6/20/2022 7:59:58 AM

The Republican Study Committee has done a great service by developing a serious proposal for getting to a federal balanced budget within seven years. You can read it yourself here. RSC Chairman Rep. Jim Banks of Indiana and RSC Budget and Spending Task Force Chairman Rep. Kevin Hern of Oklahoma led the effort which produced a solid beginning for a discussion of how to make balancing the budget a practical project. In my new book, “Defeating Big Government Socialism,” I discuss the moral and practical importance of getting back to a balanced budget.

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Reply 1 - Posted by: PChristopher 6/20/2022 8:22:29 AM (No. 1191194)
There will never be a balanced budget as long as there are Democrats.
11 people like this.

Reply 2 - Posted by: Ida Lou Pino 6/20/2022 8:24:39 AM (No. 1191198)
"Balancing" the federal budget is a fool's errand. What is the point of raising tax revenues to equal runaway spending? The goal should be "slashing" the budget - - by getting rid of every government function which didn't exist before FDR became president. Let's get back to the Coolidge budget - - when the United States enjoyed the greatest freedom and prosperity ever experienced up to that point - - and then build from there.
13 people like this.

Reply 3 - Posted by: Strike3 6/20/2022 8:31:51 AM (No. 1191205)
Both parties are so addicted to spending that a balanced budget will not be accepted by the gimmedats. Seven years of austerity? Ain't gonna happen. This government is like the fool who wins the lottery, buys homes,car and boats and marries the town gold-digger. Before he knows it, it's all gone, she is gone and he's out buying more lottery tickets.
8 people like this.

Reply 4 - Posted by: chance_232 6/20/2022 8:44:15 AM (No. 1191220)
With rising inflation and a looming recession, I guarantee that Congress will spend even more "stimulus" money. We are now backed into a corner. The government always lowered interest rates and spent money to stimulate the economy during a recession. What do you do when you don't have the cash and both remedies increase inflation?
3 people like this.

Reply 5 - Posted by: IowaDad 6/20/2022 9:02:01 AM (No. 1191237)
In seven years? What a joke! “I’ll quit beating my wife/getting drunk/ robbing banks/burning downtowns/cyber theft/corrupting city hall in seven years, judge”
2 people like this.

Reply 6 - Posted by: TLCary 6/20/2022 9:04:39 AM (No. 1191241)
Incumbants will print as much money as it takes to buy votes to get reelected. Trillions, Hundreds of Trillions, who cares - move the decimal point and get used to the suffering; as long as they get reelected.
2 people like this.

Reply 7 - Posted by: SkeezerMcGee 6/20/2022 9:10:10 AM (No. 1191246)
About 30 years ago a Republican Congressman proposed to reduce the upcoming federal budget by a whopping 1%. He got Zero support. Now they are talking about a balanced Budget in 7 years. Hopeless nonsence.
4 people like this.

Reply 8 - Posted by: stablemoney 6/20/2022 9:45:19 AM (No. 1191285)
Rand Paul introduces a balanced budget amendment every year. It was just voted down by all the Democrats and half the Republicans, and you can guess who the Republicans were. Without getting rid of the Rino's, there will never be a balanced budget.
6 people like this.

Reply 9 - Posted by: DVC 6/20/2022 10:07:32 AM (No. 1191311)
Re #1, and huge numbers of ALL politicians, for literally thousands of years, have spent more than they had, and inflated their currency. It was more complex in the old days, you had to make the coins physically smaller, or melt them down and make the formerly pure silver or pure gold coins into 80% silver or 80% gold coins. But, all politicians want to buy more votes with taxpayer money than there is taxpayer money. ALWAYS. Only a Constitutional Amendment can change this, and then they will take huge numbers of items "off the budget" or other weasel words to cheat that.
2 people like this.

Reply 10 - Posted by: MDConservative 6/20/2022 10:40:00 AM (No. 1191355)
A "balanced budget" is political bullsh-tuff. There isn't enough revenue to cover the already profligate spending. So, pick your poision - cut programs (which means your neighbor's job whether a fed, a state or local government employee, a contractor or supplier - and military RIFs), OR raise taxes to some outlandish level, and not just income taxes, but fuel taxes, user fees and whatever you can conjure. And this doesn't include "do something" emergencies that arise, such as COVIDS. Then, the Feds can always turn these over to the states for their payment. Liberals, moderates and conservatives, individuals and corporations, all love their programs. Let's stop kidding ourselves. They will fight to the political death to preserve their stuff and maybe take yours. What are YOU willing to give up? How much YOU willing to pay? That's how budgets are balanced.
2 people like this.

Reply 11 - Posted by: joew9 6/20/2022 11:48:01 AM (No. 1191433)
There will be a line in there for extra spending in "emergency" situations. And congress will find dozens of emergencies. Several decades ago New York passed a bill to freeze hiring because the budget was out of control. BUT they put in an "emergency" exception. And once the freeze went into effect there were enough emergencies declared that more people were being hired than had been before the freeze.
1 person likes this.

Reply 12 - Posted by: ROLFNader 6/20/2022 1:17:42 PM (No. 1191531)
Gee Newt, maybe I would think a little harder about considering your fee to read anything you've written ;but so little of it has come to pass, in reality. Just a coincidence, I'm sure.........
1 person likes this.

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