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

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

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    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 )
    Last edited by Zippyjuan; 05-25-2011 at 11:52 AM.
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