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March 6, 2010
Caturday Discussion: Chairman Zero's Plan to Bankrupt America
Posted by Gregory of Yardale at March 6, 2010 10:28 AM
The CBO says that Obama's budget plan will produce trillion dollar deficits for the next ten years.
Leftists will claim that the deficit monster can be tamed by a massive tax increase. In other words, an additional trillion dollars a year can be hoovered out of the private sector and wasted by government.
Imagine the economic impact of a trillion dollars disappearing from the economy every year from now on. A trillion dollars used to feed the Government instead of being invested or spent by consumers to promote economic activity.
There's a better way. Freeze Government spending at FY2007 levels. (FY2007 being the last budget under a Republican congress and president.) Make Government allocate resources within that ceiling. By my calculations, the $10 Billion in debt over ten years would be reduced to a manageable $500 Billion... and that doesn't take into account the economic growth that would result from a restrained Federal Leviathan.
And can anyone honestly claim that the Federal Government in 2007 was insufficient profligate in its spending?
