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  • Morning Bell: Saving the American Dream by Cutting Debt, Taxes and Spending

    It might not be front-page news in the mainstream media, but according to a new poll, a large majority of Americans are alarmed at the prospect of U.S. debt continuing to grow past its already astronomical $14.3 trillion limit. They’re right to be worried, as America’s out-of-control spending takes the country down a road to decline. America is on an unsustainable fiscal path, and that’s why The Heritage Foundation has released a plan to tackle the problem: “Saving the American Dream: Heritage’s Plan to Fix the Debt, Cut Spending, and Restore Prosperity.

    Heritage released its plan as part of the Peter G. Peterson Foundation’s 2011 Fiscal Summit, in which six research organizations from across the political spectrum provided long-term fiscal plans to solve America’s spending crisis. Of all the plans, Heritage’s proposal reduces the national debt held by the public the most and keeps federal spending and taxes at the lowest levels.

    Heritage today also launched a new website, www.savingthedream.org, to highlight how its fiscal plan would reshape the federal government to better serve young adults, seniors, families, entrepreneurs and low-income workers. Read the full “Saving the American Dream” report here.

    Stuart Butler, a co-editor of Heritage’s plan and director of Heritage’s Center for Policy Innovation, explains the key behind “Saving the American Dream”:

    The Heritage plan quickly brings the federal budget in balance, keeps it permanently balanced, and starts paying down the debt—all without increasing taxes. Instead, we solve our spending and debt crises by immediately getting entitlements under control, reshaping the role of government, and creating a simple, growth-oriented tax system with greater savings incentives for all Americans.

    We also preserve and strengthen our nation’s safety-net programs without imposing massive tax hikes on future generations to do so, which would rob them of the American Dream.

    Heritage’s plan stands apart from those of the other five organizations by achieving the lowest debt level by 2035: 30 percent of Gross Domestic Product, which is less than half of the current debt-to-GDP ratio. Getting debt under control is vital. Without fiscal reform, the national debt is projected to reach 91.5 percent of GDP by 2035, according to the baseline adopted by the Peterson Foundation.

    The Heritage plan also lowers federal spending—the real cause of the nation’s fiscal woes—to 17.7 percent of GDP, falling from expected spending of 28.3 percent by 2035. And it rejects tax increases as a solution to the nation’s spending problem, keeping federal tax levels at 18.5 percent of GDP—the lowest among the plans.

    By comparison, all the other plans reduced the federal debt and reduced spending, but none went as far as Heritage’s plan—and none of them did it without relying on tax increases or at the cost of our national defense. Notably, the Center for American Progress, a liberal organization, did not offer any specifics on how they achieved debt and spending reductions.

    Heritage recognizes that America is on the verge of becoming a country in decline. Mounting debt, strangling regulations and an expanding federal bureaucracy are leading to economic stagnation, all on the backs of future generations. But there is time to save the American dream and alter the course of our future. By getting spending under control, balancing the budget and shrinking debt, Heritage’s “Saving the American Dream” plan offers real solutions to get America back on a fiscally sustainable path.

    Quick Hits:

    http://www.morningbell.org
    Posted in Ongoing Priorities [slideshow_deploy]

    48 Responses to Morning Bell: Saving the American Dream by Cutting Debt, Taxes and Spending

    1. Kevin H, college par says:

      We don't have a spending problem, we have a deficit and debt problem. Taxes must be part of the solution. To suggest the solution must be found in spending cuts alone is the type of fanatic right wing mentality that will hurt the economy, destroy jobs, and will just lead to Democrats taking back over Congress. We are seeing how the American public reacts when they are able to look through the nice sounding rhetoric and talking points and see the facts – they reject it loudly and boldly. I can only hope the conservatives in congress keep touting these types of plans that contain bad economic policy.

      All conservatives want to do is cut, cut, cut – without addressing the underlying problems and coming up with real solutions. We can't cut our way out of this problem, we need reforms to slow the rising costs of health care – fortunately the Democrats were able to take the forst bold step by passing health reform.

      As a Democrat, all I can say is thank you to Paul Ryan, for letting the American public what the far right vision looks like.

    2. Christopher Popham S says:

      We rather like John Stossel's recommendation that czars, agencies and all the

      wasteful bureacracy that they represent just be eliminated, thereby saving hundreds

      of billions of dollars. Of course that will never happen because of a paralytic Congress

      too inept to oversee these agencies or draft any viable legislation to heal and repair our fiscal/financial mess.

      Of course, they just don't care. They're simply waiting for the impending collapse

      to occur. Then they can return to their favorite pass time…..blaming each other.

      Good luck, America.

    3. Tom Newman Newport N says:

      One problem I see is that the members of congress do not see a direct impact to themselves when they vote to impact us and our children by spending more than we have.

      We all know the one thing they do understand is keeping their jobs and the perks that go along with them. Maybe we could force them to balance the budget and only spend within the current year tax revenues.

      What if members of congress would forfeit their ability to run for a second term if they were apart of a congress that failed to do their job and meet any current budget, regardless of the reason? The same could be true if they failed to even get a budget past.

      The need to use temporary budgets for any reason would require a 20% annual pay reduction for all of congress, for each time it is used.

      What if their individual campaign "cash on hand" plus 10% of the money they had spent for the current year was emptied into the general budget when they failed to meet the current budget?

      I am sure there are other ways to make them feel our pain. I would like to try them all until we find one that really works.

    4. Ken Jarvis - Las Veg says:

      5 – 25 – 11 FROM – Ken Jarvis – LVKen7@Gmail.com

      NY 26 election – Will SAVE Medicare.

      GOP will abandon – End Medicare Campaign.

      The VOTERS SPEAK – WE WANT MEDICARE.

      ===

      The GOP are on a ROLL Today – DOWN HILL.

      They LOST the election in NY 25 because they want to end Meidicare, and the voters say NO to that.

      ===

      " House Majority Leader Eric Cantor (R-VA) says no aid for Joplin without cuts" – Showing the GOP Has NO Compassion.

      ===

      And the WSJ runs its 4th Anti-Consumer Protection & Elizabeth Warren editorial.

      ===

      Tell me again, why YOU are a GOP. Thanks. KJ

    5. Turner, Massachusett says:

      I promise you all this, all is gone and the future is worse than bleak if we do not have a Christian, spiritual revival in America: “The fruit you long for has gone from you, and all things that were luxurious and splendid have passed away from you and men will no longer find them." Revelation 18:14

    6. Stephen Peters, Edge says:

      Let us go back to the sanity of the Clinton tax plan! Wipe out the Bush trickle down plan that will never work. Cut defense spending and these give away welfare plans to the oil industry and start penalizing off shore havens.

      Let's get real! I suppose nobody remembers David Stockman!

    7. Robert, North Richla says:

      Great ideas! Now, we need a Congress to implement them. Good luck with that. The republicans are crafting a $1 trillion package of spending cuts over the next ten years – against the baseline (which assumes around 5% growth). In other words, Obama will get a blank check to go borrow $2 trillion and the issue will be dead. Heritage has shown us $300 billion is spending cuts we can make now. So, we should increase the debt limit by $300 billion offset by the same immediate spending cuts. Why? So, we can have another vote in the fall; another crucial vote BEFORE the primaries; and another crucial vote BEFORE the November elections. Tell Congress no more than $300 billion on each increase. Anything over $300 billion is a massive victory for Obama/Reid. We need to hold this Congress' feet to the fire. They have failed.

    8. Mike, Chicago says:

      Since obama is in England, Margaret Thatcher's quote is appropiate. "The problem with liberals is that they eventually run out of other people's money." It was true when she said it and it's even more so now. Our cities, states, and countries are in financial dire straits. A big part of that is people receiving public aid and not paying taxes even when they have jobs. Stop the public trough except for the infirmed, get rid of the EITC, and stop illegal immigration now. This will greatly help "right the ship".

    9. George Colgrove, VA says:

      You mention that the public are against raising the debt limit. We were against it back in February 2010 when we raised it to the limit we are currently breaking. All promises that were made are all broken. Moreover, none of the projections made to justify that increase ever came about.

      Today we are in the same state of affairs but over a trillion more in debt. We are being told the same lies and the same warnings, and are being given the same projections to justify the increase, but the difference here is we are buried under more debt that no one believes the government is serious in paying it back. In addition, what is different is that we are told, that after we were supposed to be under more fiscal discipline from promises made last time, we need to raise the debt ceiling over$2 trillion. Based on my numbers if we do nothing to stop federal spending, we will consume that added capacity long before the end of FT2012! Meaning we will be right here again next year!

      When Heritage says they have “long term” plans for reaching a balanced budget, Like Ryan, they are saying without actually using the words, “WE WILL RAISE THE DEBT UNTIL OUR PLAN TOPS OUT WITH A BALANCED BUDGET!” With Ryan’s plan, it will take 10 years and another trillion more debt beyond the necessary $2 trillion they need to make it work. We will end up with National Debt of almost $18 trillion. As the article suggests, America is scared of $14 trillion, want another $4 trillion on top of that?

      My solution is to increase the national debt by only $300 billion to be used for non-war related national emergency purposed only. As we pay of the debt, this amount will go down correspondingly until we have $300 billion debt capacity. Then afterwards, the national debt limit will be reduced so that we maintain only a $300 billion non-war related emergency fund.

      For this year maintain the debt limit for federal spending and cut over $600 billion that is necessary to freeze the debt and cover remaining interest. Next year just impose a balanced budget.

    10. George Colgrove, VA says:

      Kevin H, college park, md

      OK Kevin, I agree lets tax. Have you sent in your entire paycheck this year? That is what it will take. I would like to see you be an example.

    11. James Michael Tierra says:

      Your save the american dream is a great program, lets hope our goverment officials will use it. but for right now let not raise the debt limit. This will force changes today not in the future. Our goverment take in over 2 trillion dollars a year more than enough to pay interst and some principal on our debt. Let our elected congress choose which cuts need to be made after interst and principal. This leaves them no choice and no more monies to spend.

    12. Don Vander Jagt, Gra says:

      Our problem is that we have foolishly put the fools in charge, and then gave the mic to other fools; its over folks unless there is another Pactrict Henry out there somewhere, and a real Christian leader who will clean out our apostate church !!!

    13. Blair Franconia, NH says:

      We'll be heading for a Greek Tragedy if we don't reform Medicare, Medicaid, and Social Security.

    14. Mark Taylor, Wiscons says:

      I regret that I must take exception to the statement "But there is time to save the American dream and alter the course of our future." It is that mindset that is contributing to our continued course over the cliff. We are out of time…in fact, it is too late already. We put salve on the wound, but we're bleeding out. Desperate times call for desperate actions and unless we implement them soon, they will implement with or without us.

    15. Mike, Chicago says:

      Stephen Peters is right, the only other thing he should have said is to keep the Christian Taliban out of politics too. Especially the ones who weren't holy enough to get called to heaven last Saturday.

    16. jerry betts, Garland says:

      What must be addressed are all those who profess concern about the debt but becom aghast when anything is said about pain for them. "We can't do without it" is an all too common cry; sometimes valid, but more often directly related to resistance to life style change.

      We are becoming Greece in more ways than one.

    17. Rick says:

      This countries soul was sold by the corrupt politians that hold office. There greed and struggle for power destroyed this country. To even think we're can come back would take more than what any politian is willing to do. When in history have they taken cuts. When will the worthless unions be abolished. When will the money stay here and not given to countries bering bought to be our friends. I see little hope as goverment continues to be more corrupt right before our eyes and we sit and watch. I think the whole goverment needs to be abolishjed and a new in place

    18. Victor Barney, LeHig says:

      Yeah! By next November, we are going to see what obama promised those who voted for him, a marxist(Anti-Christ, as Islam) take-over of u.s. Bad News is that it will require a holocaust! Good news is that it will only involve anglo-saxon men and not women. No? We'll find out be next fall. Watch!

    19. ann / st. johns, fl says:

      I agree about the budget, cutting is the only way.

      My fear is the War Bill – giving Obama complete freedon to go to war without checking with Congress or Senate. He (Obama) went to Libya without clearing with our Reps.

      If this bill passes and Obama can go to war no matter what – The Constitution is getting stepped on and America we know and love will be gone. The gov't is becoming more Socialist and if our Reps don't say no or upheld the Constitution then they should not be in office.

      God Bless America

    20. rosemarie douglass says:

      well well

      amerika you wanted this

      NOW YOU GAT IT

      STOP CRYING AND DO SOMTHING

    21. Mr. Smith, Edmond, O says:

      OK…since I was a little kid, I've planned on SS not being there for the most part..as my parents and the media told me. I'm 52, went to a hard college, have worked hard, and saved/invested, and have been frugal our whole lives. Have watched our friends spend, spend, spend,,,with no investments, no savings, no retirement. I'm a conservative.

      HERITAGE…I want my money back! I want my ~$250K (my portion of SS, not my employers contribution…the Feds can, and will, keep that) that I will have contributed all my 30+ yrs of adult working life when/if I get to retirement at 67-68.

      This SS plan penalizes me because I was not a spend thrift the past 30 years and will have income during my retirement years. I do not care to forfeit what was taken from me. Isn't that another ~6% tax all these years if I dont receive it back?

    22. KC - New Mexico says:

      The current leadership in Washington must stop the wasted spending and significantly cut expenditures. Our current mode of operation is just stupid! Taxes do not need to be cut, but they need to be revised into a flat tax where there are no exceptions, no deductions, and a limited need for IRS.

      The current billions of dollars going to foreign countries needs to immediately stop and be directed at the flooding and tornado destruction in our own country. I am sure these countries would understand, they don’t like the US anyway so if they don’t get their money – so what!!!

      The current leadership (Obama and company) do not have a clue about what is going on in this country – they are too rich to understand. Time for real change – 2012 is coming soon – now we just need a real leader to step up to the challenge (none so far have).

    23. KC - New Mexico says:

      Kevin H, college park, md

      Kevin – the current tax process is outdated and not fair to the general tax payer. That is because half do not pay taxes and the rich have too many loop holes to pay their real fair share. A flat tax approach is the solution – no exceptions, no deductions – everyone pays a percent of what they receive in income (monitary or entitlement). Just think – a limited IRS, no need for tax lawyers, consultants, etc. And the real plus is that the US would have more revenue from taxes and everyone would be involved.

    24. Daniel E, Joseph Cit says:

      Kevin H has quickly forgotten what got us into this mess———-> Spending Spending and more SPENDING, but what can be expected from a Left wing liberal. Paul Ryan accurately described and gave a pretty fair solution for getting us out of this financial mess. The REAL PROBLEM is that some PEOPLE want something for nothing and don't want to have to EARN it.

    25. Barbara says:

      Our federal government leaders have contributed mightily to our debt mess, not only in their foolish decisions but they too become wards of the state with all their lavish perks.

    26. Grant Hiesterman, Mi says:

      The government is "We, the people." We the people have a personal average debt of $7,800 for every man, woman, and child in the United States. This does not include mortgages or vehicles. Deficit living begins in our own life and home. We must live within our own means and insist our elected representatives do likewise. You owe me nothing and I owe you nothing. Pay your own way with the cash you have and quit relying on credit cards or the government to bail you out and finance you incorrect thinking. It can be done. I have lived without ANY debt for 25 years.

    27. Dom Golio says:

      I cannot save or print the Dream Plan. Where can I find it elsewhere?

    28. Tom Sater says:

      Read this – only if you love your country, and love your children,…otherwise don't bother.

    29. Dwana Townsend, Harv says:

      I went to savingamerica.org website and was disappointed that there wasn't a blog spot or a place for us to ask specific questions (a Q & A section).

      I like the plan however I have a few suggestions of my own concerning reforms as well as have a few concerns as well.

      It would be great if an everyday Citizen could ask a question or two, or submit a suggestion. I think if we feel we have a role in our own destiny the plan will get more buy in from the majority. If this is something that the American people can embrace, it will gain momentum, and the people will go to work writing and calling their representatives, attending townhall meetings, as well as supporting a candidate that adopts most of your ideas. I don't think we can wait that long for change, but from where I stand it looks like we are at a stale mate (at present there is a great divide in this country and it does not look like they have no interest in having real discussion on these very important issues), This could be partly due to the coming elections that noone is willing to stick their neck out too far. What a shame we have no one with guts!

    30. Ron W. Smith, Provid says:

      A nation in decline? Only if we equate military superiority with world leadership. There are ways yet untried for leading the world, ways that don't require us being SuperPower on call and acting like latter-day imperialists. And there are certainly ways less likely to play so big a role in our annual expenditures in treasure and lives. We're a country deep in debt, and projecting our power everywhere on earth, ending up in intervention after intervention, war after war, has contributed significantly to that debt and the annual deficit.

      Just look at the price we pay, in the guise of National Security, for our version of world leadership. National Defense is just one area where we almost outspend the rest of the world combined. Is there any other country which has the Homeland Security expenses we do (or needs them)? Not a one. Is there any other country which has Nation Building somewhere in its budget? Or another country in need of so extensive a Veterans Affairs Administration or so much Foreign Aid designed to gain the cooperation of other countries?

      We're now over $1 trillion annually for that collective of five under National Security. Quite a luxury, isn't it, for a country talking about cutting spending and potentially doing the cutting on the backs of those less fortunate right in our own back yard? Alternatively, it isn't impossible to see the threat of our decline as related directly to what we're willing to pay for "world leadership" ever since our entry into WWII. The price has been high, maybe foolish these days since paid for with borrowed money.

      Yes, to cut spending and, eventually, to be out of debt requires more than just slashing National Security spending. Everything should be equitably be on the table. Everything.

      And the dreams of empire, confused by some with hegemony, have to go in favor of willingness to talk publicly with anyone in the world about their grievances and fears, willingness to lead by example at all times, willingness to share costs of military action instead of unilaterally acting the result of our own fears and perceived threats, willingness to discuss and debate openly right here in the U.S. Most of all, within our own borders, and across the one at the south are problems waiting for solution–many of them decades old. They, solved, would help the matter of how we're perceived by the rest of the world–increasingly as internationally meddlesome, a bull in the world's china shop unable (sometimes unwilling) to solve our own hefty problems.

      Look up "Saving the American Dream" and see what you find in it of any of the above. The topics are there. And I'm here, ready and willing to debate anytime, Mike Brownfield.

    31. B. Eric, Syosset N.Y says:

      Ken Jarvis you are wrong as usual. The dems won in upstate N.Y. due to the same reason that Clinton beat George h.w. Bush. A third party candidate that siphoned enough votes from the republican so that she could not win, as well as a slime campaign that said that republicans want to end medicare.

    32. toledofan says:

      The real problem is the Democrats. It's really pretty simple they, the Democrats, have to depend on all who get the entitlements, the unions, and those looking for a hand out to be elected. They don't have plan, everything they try has been tried and failed before, but, they keep going with the same stuff; class warfare, sock the rich, grow the government and do the same over and over again. The ideas you guys develop are sound, make sense, and are practical, but, until some political leadership can be implanted into Washington, nothing will change. The Democrats just can't be trusted with managing the economy, the military or the government, it's not a part of their DNA.

    33. Clearhead, U.S.S.O. says:

      Kevin H. and all the rest of you all-wise, all-knowing, starry eyed dumbocrats: At the top of this page is a coherent, logical, and valuable article of reason. We Americans suggest you read it. And Mr. Jarvis, we have your number, and the threat of your being outed is still real, even though we would prefer to let you continue performing your 'calling'. Best regards.

    34. Ben C., Ann Arbor, M says:

      The core problem that seems to be ignored is that Democrats believe that the govenment is the problem solver and government dependance is a good thing. My conservative friends and I believe that self reliance is the reason for the success of our country and the role of our government should be limited to its original concepts. Once society becomes dependant on goverment, as is happening, growtrh will cease and stagnation will occur. Detroit Michigan is living proof.

    35. Stop NationalDebt, U says:

      There won't be change until the public truly gets how bad things are. The public yawns when it hears $trillions thinking "big number, but its a big country". since they have no perspective. We need to rephrase the issue:

      There won't be change until the public truly gets how bad US finances are. The public yawns when it hears $trillions in debt thinking "big number, but its a big country". since they have no perspective. We need to rephrase the issue:

      The federal government will need >$1 million per household to pay its IOUs!

      > $116 trillion ="official" debt plus money  short for future social security, medicare, etc

      Even its "official debt" of $14.2 trillion  is $123,754 per household!

      Details at http://StopNationalDebt.com with links to contact congress & complain.

      "POLL REVEALS: Americans Are Still In Deep Denial About The Deficit" http://read.bi/h6QDGR If they realized how bad it is politicians would need to act.

      Be among the first to join the Facebook "event' "Balance the Budget NOW! Stop National Debt!"
      http://www.facebook.com/event.php?eid=22216504780… since if you don't spread the word, who will? We need to spread the word virally to educate non news-junkies. Its online&ongoing.

    36. Sarasota John Saraso says:

      What American Dream, the government took it.

    37. Russell Sebring Fl says:

      Just what is the American dream? About 50% of the citizens pay no federal income tax. About the same amount receive some sort of government largess. Is this what the American Dream has become? Just how do we get back to the days of accountability? “Advise and counsel him; if he does not listen, let adversity teach him.” I don't have the author. Does this mean that to make everyone accountable that we have to take away the government largess and to make everyone donate to the upkeep of the government. The community took care of the needy before the government decided they they could do a better job and just how did that turn out.

    38. Tom Sullivan in FL says:

      Govt spending is now 41% of GDP (down slightly since the Porkulus ran out). Govt regulations cost another 20% of GDP annually. Govt is now consuming 61% of GDP each year.

      Obviously govt cannot be trusted. We must tie their hands with constitutional amendments in order to protect ourselves.

      1. Limit federal spending to 17.7% of GDP – Heritage plan

      2. Limit taxation to 18.5% of GDP – Heritage plan

      3. Limit the cost of federal regulation compliance to 3% of GDP. It is currently about 11% of GDP (at least $1.75 trillion yearly).

      4. Forbid further borrowing, and require annual payments on the debt of $200 billion. Make sure we stop them from stealing the "trust funds" like social security, which they have robbed of about $5 trillion.

      5. Wipe out all federal departments not explicitly authorized by the Constitution.

      Similar ironclad requirements should be placed on state and local govt.

    39. jerome says:

      I applaud Heritage for posing a plausible remedy and their optimism, but it is academic at this point. The time for serious discussion and palatable solutions has come and gone. While the 'american dream' may still be on life support and not technically dead yet, it is analagous to the 91 year old patient with stage 4 cancer and only a matter of time. The marxist juggernaut achieved critical mass with the 2008 election. Any meaningful debate was over and it has been full speed ahead on the road to serfdom. Sit back, relax, enjoy the ride, but be prepared for disappointment when we get there. Utopia won't be exactly like described in the brochure. Less affluent is not all it's cracked up to be and the ruling class will be much smaller than some people think.

    40. Helen @ Arden DE says:

      So, Heritage has formulated a workable plan to rescue us, but where does it go from here? What authority will implement it or does it just make good reading? It is clear that a majority of citizens are not in favor of certain laws passed, but it seems these laws are still enforced. Public opinion seems to have no power to change the way we are governed. Our Constitution is ignored by those swearing to uphold it and who is calling these lawbreakers into account? Why is there no action by Congress to right these wrongs, no matter who the violators?

    41. F.D. O'Toole says:

      It's better to discuss a problem when you have actual numbers. Some of the writers might reach different conclusions if they had some data. For instance, Revenues. As far as I can see, the US will take in $4.64 trillion this year. That's a lot, historically. But it borrows more. Of every dollar it spends, 40 cents is borrowed. That's irresponsible except for emergencies. (A high speed rail line is not an emergency). That's irresponsible spending.

      The debt limit is $13.2 trillion. But that's not the real debt. Unlike a corporation, or maybe, much like Enron, the government has debt off the books. These debts are huge.

      I've seen estimates that to bail out FNMA, GNMA and the FHA alone, it would cost about $500 billion each. The Social Security Trust Fund is owed huge amounts. I don't have the figure handy. Medicare, Medicaid, all are broke. But I hope you get the idea.

      Our reserves are denoted in billions, not trillions. Last I looked, we had $128 billion in foreign currency. $350 billion in gold. And $60 billion in the strategic oil reserve. Around $500 b or half a trillion. I suppose we could sell the Washington Monument and some other historical sites to keep the merry-go-round spinning another couple of days.

      Seems like we do indeed have a spending problem and we had better get it under control.

    42. Dr. Henry D. Sinopol says:

      Heritage…don't you get it…The lifer Republicans & lifer Democrats only care about one thing….re-election – keep writing all those important reports…that no one in government reads…

    43. Roger S., Mass. says:

      @Kevin and @Ken, here's my simple answer:

      It's much more likely that a hungry dog will ignore a juicy hot-dog and a scrumptious bag of chips lying in the street than that a Democrat or Rino will ignore anybody's money hiding in a bank vault. — You may quote me!

      You can argue all you want, but the reason we are today, where we are and don't want to be, is overspending. Period. Period. Period.

      Overspending created by the above entities with YOUR help —the help of people everywhere who sought to profit from it in any number of ways.

      Except for the "dog": At least it will stop eating when it's too "stuffed" for another bite, another thing which nobody should expect of Democrats and Rinos!

      If ever we wish to get out of this hole, that means Cut, Cut, Cut, and Cut some more — spending, that is! And, it also means returning the "money saved", at least as soon as there is any, from the public to the private sector. Remember Ben Franklin? To expand: "A penny not spent is a penny saved; and a penny saved is a penny earned." A penny not spent by the Fed.Gov. is a penny saved for the private sector to INVEST (in creating more REAL pennies, something the Gov. can not do!

      That means "no new taxes", repeal of many "old taxes", and to do that the removal of literally "Gazillions" (a Verrrry Biiiig Number!!!) of government departments, agencies, and regulations blocking economic growth. This last part is as imperative as is the first. And that is for the simple reason that we need to start re-backing our nearly worthless $$$ with what used to provide them with value: REAL products, services, investments in productive capacity. — In short, we need to re-start actually EARNING what we spend!

      My "plan" to do all this would be the simplest of all: CUT: 10pct this year, off everything, Next year: 9 pct. Then, 8pct … and so on for the next 10 years. The first years will be hard, for sure, but it gets easier as you go along, and generates a "habit" of turning every $ over twice, at least, which is exactly what we need to do. It accomplishes another very important thing: It gets everyone focusing on priorities, in terms of "do I really need this", or that. Finally, it accomplishes the most important thing of all: overcoming the NIMBY reflex most people understandably have. Nobody and nothing "gets off easy"! But, everybody and everything gets relief, and the chance to "re-grow" in the new climate of initiative and investment which will be at once everyone's burden and opportunity!

      Let's face it: By ignoring the Constitutionality of Federal Powers for so many years (practically a century), we have created a Gordian Knot so tight that any more complicated plan is more likely to further tighten it than to get it unraveled, and thus more likely to fail than to succeed! — Cut, cut, cut, and cut some more is what it will take, for a long time. Anybody in Congress have the stomach for it?! I doubt that! God save us all !

    44. 2dokie says:

      We won't recover the american dream without recovering american values. We need to reestablish the idea that we are defined by what we do and how much of it we produce… not by what we wear and where we're seen and how much we get at the government trough. False pride over being worthless is a national epidemic and a disgrace. One of my customers complained recently that out of 14 applicants, only 2 had driver's licenses. We have become a nation of do-nothing idiots who have to be taught basic behaviors that were "genetic"a few years ago. Greed and envy are accepted behavioral attitudes now. The "Pushers" in DC have addicts willing to keep them in office for the pittances they get. We still need our own heavy industry. We also need a national sales tax..ALONE! It's the only intelligent way for everyone to contribute equitably and gather it effeciently. But even that won't solve dishonesty in public office

    45. Kapt. Blasto, USA says:

      Look, ever since Alexander Hamilton thought up the idea of "Bond you now, Tax you later…"

      Our Governments, (federal, state, and otherwise) have always gotten in We the people into trouble with our national debt situation, and, always let our economies, either through regulation through tax impositions, quotas, political turmoils, etc. etc., always stay a few steps ahead of disaster, allowing constant failure and uncertainty worries, as the driving force behind forever high demand for "Treasury" (BONDS) sales, both here, and abroad…

      Starting first with succesive sessions of Congress viewing US CONST Article 1, Section 8, Clause 2: "…to borrow upon the credit of the United States…" as a HOLY WRIT Commandment, to ALWAYS DO and NOT as a OPTIONAL DUTY, as the enabling phrase in Clause 1 "Shall have the power" would convey, if READ CORRECTLY: Just because you CAN do something, doesn't necessarily mean you MUST, or MUST ALWAYS do that something…."Shall have the power" NEVER HAS and NEVER WILL EQUAL "MUST DO."

      Unfortunately, Hamiltion's scheme, becomes a "vicious circle" enabler for Congress to continually keep the Government, and through the Government, the people (residential and corporate), in constant debt, and the people in constant subject to excessive taxation, by whatever reasonings Governments use to keep the people paying the money….

      Therefore, the LURE that hooks those within the jurisdiction, first, who would buy up debt is "DOUBLE YOUR MONEY TAX FREE GUARANTEED." But as prices rise, because we're taxing ourselves to oblivion, to pay ourselves to oblivion, we get exhausted burning a candle at both ends, and the middle.

      So…when we get tapped out and really can't buy up and revolve the debt, anymore, the tactic then switches to foreign governments, and we let those governments buy up the debt….because us buying up the debt primes the pump and BONDS us to excessive taxation, which then allows FOREIGN GOVT'S (probably doing same, with different variations) to then see if they can double their money without paying the taxes that go with it….

      Now as a defense tactic, loading up foreign governments with our bonds seems logical: why would they try attacking, if all they'll do is make their holdings of bonds worthless with their hostile actions?

      Plus, if they allow their economies to use that holding of bonds as backing for their financings and their economic activities…then any hostile action they try fomenting against us, would tank their economies as well. So then it becomes a financial COLD WAR, with Mutually Assured Destruction…without the Fallout from Nuclear Mushrooms. Therefore to prop up the dollar to keep things from tanking, Foreign investments come in, to then

      It's kinda smart planning, when you think about it…because as long as the Government stands (and has the capacity to collect for the yields and maturities) the BONDS are still good, and the money is still good.

      But, the problem being is, we let our Central Banks always take the fall for Government's exploitation of us, through our willingness to trade liberty for "safety from uncertainty," and we are willing to suspend disbelief, because of the "Boogeyman" groups that are constantly being thrown at us to keep looking at, rather than the primary cause: Government and it's incessant demand for you to hand them your money.

      primarily, because our perception of banks, central or otherwise, and the people behind banking systems, are, as the puppet masters who control governments through the circulation of currency. it's "THE OTHER GUY/THEM/THE EVIL ONES" as a setup to keep you always needing protection from…

      Our Government loves this "every-which-way-but-loose" misdirection, because it keeps the money rolling in to them from our pockets. The "Conspiracy" or "THE ENEMY" has been the best boogeyman at work for our Government for…ever. And we're the ones who been had, and the worst part about it: WE LOVE DOING IT TO OURSELVES, and we REFUSE to stop, or even give consideration to another way…BUT SOMEHOW, it must be done.

      So, ANY real honest attempt at getting rid of the DEBT, MUST START by breaking the VICIOUS CIRCLE that Alexander Hamilton's "Bond you now, Tax you later" scheme, brings, and I am in the process of developing a way that could do just that…..

      I have some preliminary ideas in Facebook, if you care to read my note "How to get rid of the National Debt…without really trying"

      Thank you once again, for the comment space.

      -KB

    46. carolyn kirkland, va says:

      I say let's put Heritage personnel in charge of govt. and get rid of our current govt. They make more sense than ony one in Govt. and have better plans for fixing what is wrong in America. CK

    47. Bobbie says:

      debt and deficit responsibility of government over spending and mismanaging funds and programs. Government got America into this. Government needs to face it's own consequences and reduce itself in weight and volume. People have to pull up their own pants in America! People are so filled with government corruption, Kevin H., that they feel government is the only resource while failing their own minds abilities and their friends, families and faith as personal resources that maintains their freedom from government dependency …

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