| to balance the budget ??from here on after ? once the debt ceiling is raised necessarily implies balancing the budget this year. And to do so without raising any additional revenue would entail a 44% cut in literally everything the government does:everything from Social Security,Medicare,and defense spending to highway funds, the FBI and the Coast Guard. Removing Social Security and defense from the equation then requires an 89% cut in everything else.Responsible budgeting means finding a balance between the important and popular functions of government and the revenue necessary to fund them.Any budget plan that actually succeeds in reducing the deficit without pummeling the middle- and lower-class has to include tax increases and must be phased in over time,as the economy gets back to full strength.But Paul would risk the US defaulting on its debt obligations to implement his version |
Read the rest of the story HERE:
At wonkroom.thinkprogress.org
At wonkroom.thinkprogress.org
