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Old 07-30-2011, 10:15 PM
 
33,016 posts, read 27,458,643 times
Reputation: 9074

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Quote:
Originally Posted by pghquest View Post
Except for one thing.. its illegal.

One Congress cant tie the hands of another Congress on spending limits.

Best argument yet for a Balanced Budget Amendment!
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Old 07-30-2011, 10:20 PM
 
69,368 posts, read 64,108,083 times
Reputation: 9383
Quote:
Originally Posted by freemkt View Post
Best argument yet for a Balanced Budget Amendment!
We finally agree..
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Old 07-30-2011, 10:27 PM
 
69,368 posts, read 64,108,083 times
Reputation: 9383
Looks like I bummed the thread out again by posting facts.. grrr
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Old 07-31-2011, 12:21 AM
 
Location: Earth
17,440 posts, read 28,602,920 times
Reputation: 7477
Quote:
Originally Posted by pghquest View Post
We finally agree..
I'd support a Balanced Budget Amendment.
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Old 07-31-2011, 06:35 AM
 
Location: Fort Worth Texas
12,481 posts, read 10,222,878 times
Reputation: 2536
Quote:
Originally Posted by pghquest View Post
Except for one thing.. its illegal.

One Congress cant tie the hands of another Congress on spending limits.
where is that illegal?
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Old 07-31-2011, 06:48 AM
 
Location: Land of debt and Corruption
7,545 posts, read 8,326,934 times
Reputation: 2889
Quote:
Originally Posted by AnUnidentifiedMale View Post
I'm also impressed with him. He recently got a perfect score on the Freedom Index, which ranks Congressmen according to how closely they adhere to the Constitution.

Freedom Index (http://www.thenewamerican.com/usnews/congress/8384-new-freedom-indexq-rates-congressmen-based-on-constitution - broken link)

He's obviously a principled guy.
Nice link, thanks for posting it. Quick glance tells me that Republicans tend to follow the Constitution much more closely than the Democrats. I'm not surprised.
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Old 07-31-2011, 06:59 AM
 
9,727 posts, read 9,729,135 times
Reputation: 6407
Quote:
Originally Posted by wjtwet View Post
I say why not its the best plan other than cut cap and balance.


A Good Choice . . .: Congressman Connie Mack's "Penny Plan" to Attack Federal Deficit/Debt

WASHINGTON- Today, Congressman Connie Mack (FL-14) welcomed the support of Freedom Works for the “One Percent Spending Reduction Act," legislation – also known as the "Penny Plan" – that was introduced by Senator Mike Enzi (R-WY) last week, and authored by Congressman Connie Mack (R-FL) last spring in the U.S. House of Representatives.


Mack stated: “I am proud to have the support of Freedom Works and the great work of their Chairman, Leader Dick Armey. Our deficits and debt hang around us like an albatross, and last November American voters sent a clear message to their elected officials that ‘enough is enough’ when it comes to Washington’s appetite for spending.”


Presently the Mack Penny plan enjoys the support of over 40 co-sponsors in the U.S House; the backing of the Republican Study Committee’s 103 Members, three key U.S. Senators, and two grassroots organizations .


The Penny Plan balances the budget by:


• Cutting total federal spending by one percent each year for six consecutive years,


• Setting an overall spending cap of 18 percent of gross domestic product in 2018, and


• Reducing overall spending by $7.5 trillion over 10 years.


If Congress and the President are unable to make the necessary cuts, the bill’s fail-safe triggers automatic, across-the-board cuts to ensure the one percent reductions are achieved.


Matt Kibbe of Freedom Works stated: “Washington is on an unprecedented spending binge. Our national debt has skyrocketed to nearly $14.4 trillion. The Republican Study Committee has listed the One Percent Spending Reduction Act as a bold solution in their “Cut, Cap and Balance” proposal letter to House leadership. The letter states that it would be fiscally irresponsible to raise the debt ceiling without immediate spending cuts, enforceable total-spending caps and a balanced budget amendment. Rep. Mack’s “penny plan” should be considered as the second part of the RSC’s “Cut, Cap, and Balance” approach for the debt ceiling in order to put federal spending on the path to a balanced budget.”


There is an important feature that is missing and that is the Mack Plan also takes the country OFF of "baseline budgeting" which automatically increases the budgets of federal agencies and programs by 7-10% every year. The plan would FREEZE all budgets an then roll them back 1% every year. That would save over $9 Trillion over 10 years.
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Old 07-31-2011, 08:22 AM
 
Location: North America
5,960 posts, read 5,546,690 times
Reputation: 1951
If the Tea Party can hold the line and not give in to the bureaucrats then we can get a balanced budget amendment within the decade.
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