Rand expects to get a vote on his 5 year plan to balance the budget

[sailingaway]

http://www.rollcall.com/issues/56_127/Senate-Republicans-Vote-Ryan-Budget-205896-1.html?pos=htmbtxt

[Zippyjuan]

He makes some interesting assumptions to get it to balance. He claims to cut spending by $5 trillion yet final spending at the end of five years is only $300 billion lower than this years figures (at least it is a step in the right direction). He has government revenues (tax collections) increasing by 50% over that time (going from $2.4 trillion to $3.4 trillion- an increase of $1.2 trillion) and taxes as a percent of GDP to rise from 14.8% of GDP to 18% of GDP. His figures also assume that the economy (as measured by GDP) grows by 27% during that time period (rising from $15 trillion to $19 trillion a year) which seems pretty optimistic in my opinion. (see page 49 of his plan here for the numbers: http://campaignforliberty.com/materials/RandBudget.pdf )

[Captain America]

http://www.c-span.org/Live-Video/C-SPAN2/