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'We're Going to Have a Crisis': David Stockman's Stark Warning for America
Apr 3, 2013 09:57:16   #
OPP Newsletter
 
http://www.theatlantic.com/politics/archive/2013/04/were-going-to-have-a-crisis-david-stockmans-stark-warning-for-america/274554/

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Apr 3, 2013 15:32:44   #
WhoIsJohnGalt
 
Were Mister Stockman truly interested in doing something beyond selling his book, he would be call for the repeal of the Congressional Budget and Impoundments Control Act of 1974, along with the recall of its amendments, Balanced and Emergency Deficit Control Act of 1985, the [b]Budget Enforcement Act of 1990[/i], and the Balanced Budget Act of 1997.

The budgeting process that Congress established in 1974 does not ask, "What can we cut out for this year?" But instead asks, "How much spending shall we add this year?" Those are two very different questions with very dangerous differences. We are increasing our spending despite the fact that we are falling off a demographic cliff. We need major reductions in spending right now, not tomorrow or the next day, we need them today.

Let us have no dalliance with Paul Ryan's proposed budget that reaches balance in ten years time. Were we to be seduced by his nefarious charms, our government would be thirty-five percent large in ten years than it is today. His approach, allowing 3.4% growth per year simply will not fix our problems. That is merely nibbling at the edges of a growing problem. A problem which grows faster than his proposed nibbling.

We need to cut out entire departments out of the Executive Branch. I nominate the Department of Education and the Department of Homeland Security for the first two to be dismantled and abolished.

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