Budget
The Left Says
Deficits are OK if they come from ensuring necessary services like healthcare & education, because those are vital to the health of our nation.
The Right Says
Deficits are OK if they come from tax breaks for the job-producers, because that stimulates the economy.
The Solution
Deficits are not OK. I can’t spend money that I don’t have, and the government shouldn’t, either. Scrap the entire, corrupt, process of authorizations and appropriations. Scrap the involuted notion of private banks owning the central bank that fabricates money and then charges us to loan it to the government1. Instead, take all of the expenditures from this year and figure the percent of the total for each (by department). Next year’s budget is just that percentage of this year’s revenue. Each department is also mandated to build an emergency fund equal to 100% of their annual costs. To incentivize cost-savings, peg bonuses to those departments that get their emergency funds built the quickest. If the Navy wants a new aircraft carrier, they might have to save up for a year or two, then pay for it in cash. If congress wants to increase funding in one area, they have to reduce it in another by the same percentage. Social Security, Medicare, and Medicaid are separate funds, not part of the overall Federal budget; they are separate taxes, going to separate buckets (see Social Security). Government borrowing (or deficit spending) would be eliminated 2.
1 ”The Congress shall have Power To: …To regulate Commerce…among the several States…To coin Money, (and) regulate the Value thereof…”
~U.S. Constitution, Article I, Section 8.
2 “I wish it were possible to obtain a single amendment to our constitution; I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of it’s constitution; I mean an additional article taking from the federal government the power of borrowing.”
~Thomas Jefferson (From a Letter to John Taylor, November 26th, 1798)