It looks like standard election rhetoric to me. I see a whole lot of ways to give money back to the people and not a whole lot of ways for the government to begin to pay off the trillions of dollars of debt that already exists. The reason the economy is in the state that it is in currently is because people spend money exactly like the government does: "It doesn't matter that I only made $10 today. I can spend $20 as long as I agree to pay back the other $10 tomorrow." Well, guess what, it's tomorrow.
Sure I do. So exactly what part of that plan includes increasing revenue for the government to pay off debt? None. Exactly so because no one gets elected by raising taxes...even if that is really what is needed.
The plan calls for reducing spending, not increasing taxes. There is more than one way to create a budget surplus.
Took me at least that long to lookup all of the Bills and skim/read them! I asked for a mod to merge the two threads. The plan looks good. It's very aggressive, but it would absolutely put America back in the global driver's seat for entrepreneurship and capital investment.
Sure. I'm just not convinced that the reduction in spending suggested outweighs the tax cuts also suggested. There's lots of tax cuts listed in that plan but not a whole lot of reduced spending.
It puts a freeze on spending, and gives the economy several doses of human growth hormone. More people working and making money, more small business opportunities, and more savings will lower the cost of social entitlements dramatically.
When most politicians talk about a cut in spending, they are talking about a cut in the rate the spending increases. Actually freezing spending levels is a huge across the board "cut" in those terms. Also, the plan mentions closing some of our foreign military bases. There will be a significant reduction in military spending there.
Right, but it's closing foreign bases, and moving them back stateside. The idea being that instead of the troops subsidizing the Japanese, German, British and Korean economies (amongst others), that money will be earned and spent in the United States. Imagine adding another 500,000+ (military) consumers and their families, back into the US economy. And supplying bases locally with food, energy etc. Think local businesses would thrive? We've gotta address the leakage of domestic wealth into foreign markets, that is not only enabled, but mandated by government.
The Prescription for Prosperity just got Don Luskin on board as an economic advisor: http://www.ronpaul2008.com/press-re...or-to-the-ron-paul-2008-presidential-campaign