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)