One Cent Solution (Townhall.com) September 19, 2011Posted by daviddavenport in Radio Commentaries.
When federal deficits get into the trillions of dollars, it’s difficult to get our minds around numbers with 12 zeroes. So some smart people have broken it down to the level of the average family.
Imagine a family with an annual income of $50,000 that is actually spending $80,000 per year and has a credit card debt of $200,000. Then you begin to get the idea.
And let’s be honest, despite all the hue and cry from Washington, the recent actions of Congress really only slowed the rate of increase and, by raising the debt ceiling, gave the family a new credit card to borrow more.
I like the commonsense approach of a bill introduced by Congressman Connie Mack and Senior Mike Enzi – the one percent solution. Let’s cut every dollar the federal government spends by one penny every year for six years, and we’ll balance the budget by 2019.
One way or another, we desperately need a serious commitment to responsible federal spending. And we need it now.
To listen to the audio please click on this link: http://townhall.com/talkradio/dailycommentary/617921