A new "Grand Bargain" for Americans to reduce US debt

Source: Heartland Institute
by Barry Poulson & John Merrifield

"The term 'Grand Bargain' is now infamously associated with failed budget negotiations between the executive branch and Congress, most notably negotiations between former Republican House Speaker John Boehner of Ohio and President Barack Obama. The outcome of this failure to agree on a budget has led the federal debt to climb to $20 trillion, and unconstrained growth in deficits and debt is projected to continue in the coming decades. … In our forthcoming book, 'Restoring America’s Fiscal Constitution,' we show how fiscal rules could be designed to balance the budget and reduce debt to tolerable levels over a two-decade period. Of course, fiscal discipline will not be easy." [editor's note: Any proposed "bargain" with politicians over spending/debt founders on the fact that they're lying sacks of shit who can't be trusted to keep their word – TLK] (10/11/17)

http://blog.heartland.org/2017/10/a-new-grand-bargain-for-americans-to-reduce-u-s-debt/

  • JdL

    Any proposed "bargain" with politicians over spending/debt founders on the fact that they're lying sacks of shit who can't be trusted to keep their word.

    Ain't it the truth? I love how, every few years, Congress "gets serious" about getting a handle on the budget deficit. They come up with a grand plan that'll solve everything. But it always pushes off to several years down the road anything but token cuts in spending, and by the time those years go by, the plan is completely forgotten. I've lost count of the number of times this has happened during my lifetime, and what's the point of keeping count when the entire process is a transparent charade?