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Futility: 12 Plans to Cut the Federal Budget (in 1986)

Written by Gary North on November 15, 2012

If you think there is any way this government will not go bankrupt, stiffing the geezers good and hard, go to this page. Click print PDF.  It will not print. It will open.

Print out pages 53 to 59. Read them.

There are short articles by Art Laffer, Tom DiLorenzo, the late, great Warren Brookes, and nine more economists. They all had plans.

So did Ronald Reagan. He wanted to spend, spend, spend. He won. He set the Republican pattern. Bush I added to it. Bush II pulled the plug on Clinton’s policy of a sort of balanced budget. (Clinton looted Social Security taxes to get his budget into black ink. All Presidents do.)

Balance the budget today? (Soft-core budget-cutting.)

Run a surplus to pay off the federal debt? (Hard-core budget-cutting.)

With the present value of the unfunded liabilities at $222 trillion?

Surely, you jest.

Every plan to balance the budget will wind up like these 12 plans: discarded by Congress.

The Great Default is coming.

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3 thoughts on “Futility: 12 Plans to Cut the Federal Budget (in 1986)

  1. I wish the great default would come quicker. In fact it should have come 6-7 years ago. Just think we would already be back on the road to sanity. I don't just mean fiscal sanity, I call on moral sanity. The disruption of the sixties has left us wanting. We have lost sight of reality There are people broke with a debt up to 100000 and still worried that their children don't have the latest gadget or fashion.
    Once Americans are just happy having clothes without name brands and just happy having basic food instead of gourmet or fastfood, then we will be a sane country again.

  2. Carl Stevenson says:

    There's a lot to be learned amount values by watching reruns of The Waltons and little House on the Prairie. Until we abandon pop culture excesses of consumerism our economy will always suck.

  3. Carl Stevenson says:

    Should be about, not amount … Spelling check got me again!