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Last edited by aaroche26; 08-27-2012 at 07:09 PM.
I took a quick look and I notice 2 red flags. One is that they are assuming lower tax rates will proportionally lower tax revenues. This is obviously wrong. Second is that the projections go out to 2021! That's a joke!
Ron Paul is going to cut 1 trillion, in the first year. So that would reduce our spending from 3.6 trillion to 2.6 trillion. That's just about all you need to know. Nobody else is even planning on lowering the 3.6 figure.
Might want to find out who's behind that website.
Even if not all of his assumptions about his budget did not come true (like the one that tax revenues would grow by 25% over the three years of the budget) it still is an imrovement of the fiscal situation the country will be in if we were to adopt any of the other budgets anybody else has proposed (and you can count those on one hand with probably a few fingers left over- others aren't willing to say what specifically they would cut or how much they would rasie taxes to get to their mythical goal of a balanced budget).
STOP!!!! DO THIS IF YOU WANT TO WIN!! WA!!
http://www.ronpaulforums.com/showthr...NT-TO-WIN!!-WA!!
Because they're fricking idiots, debt is near 100% so even if Ron brings it down to 90%, it'll be a HERCULEAN effort because with all the other candidates, including Obama, we're still going to pile up trillions upon trillion every year & the bigger it gets, the more interest has to be paid on it, not only because of the growing debt but also with growing interest-rates as people will want higher rates due to the higher risk of default they'll be taking on & eventually Fed will have to keep buying it & that will cause massive inflationOriginally Posted by aaroche26
Exactly, nobody is willing to cut a nickel & when they talk of "cut", they're talking "cut" in FUTURE-PROJECTED-INCREASES *facepalm*
There is enormous inertia — a tyranny of the status quo — in private and especially governmental arrangements. Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable
- Milton Friedman
IGNORED.
It's the Huffingtonpost.com, aka LiberalBigSpendingMcghee.com writing an article on a study done by members of the Federal Reserve...lol. What did you expect?
http://en.wikipedia.org/wiki/Committ...Federal_Budget
Last edited by xFiFtyOnE; 03-01-2012 at 01:50 PM.
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The report was not put together by the Federal Reserve but by a bipartisan committee (see your own link for list of members) and the editorial doe not reflect the contents of the report which shows that Ron Paul achieves the greatest reductions in spending and the deficit of any of the candidate's proposals. The article itself is pretty terrible but the report is actually pretty good.
The Committee for a Responsible Federal Budget (CRFB) is an independent, non-profit, non-partisan public policy organization based in Washington, D.C. that addresses federal budget and fiscal issues. It was founded in 1981 by former United States Representatives Robert Giaimo (D-CT) and Henry Bellmon (R-OK), and its board of directors includes former Members of Congress and directors of the Office of Management and Budget, the Congressional Budget Office and the Federal Reserve.[1] CRFB is also host of the Peterson-Pew Commission on Budget Reform, which released its initial report, Red Ink Rising, in December 2009 and its second report, Getting Back in the Black, in November 2010.[2]
A large part of the board is made up of former directors of major budget-related government offices including the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), the House and Senate Budget Committees, and the Federal Reserve Board of Governors. The group also includes numerous former Congressmen, former U.S. Comptrollers General, university and think tank experts on fiscal policy, and prominent members of the business and legal community.
Last edited by xFiFtyOnE; 03-01-2012 at 03:09 PM.
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http://en.wikipedia.org/wiki/Federal...d_of_Governors
"The Federal Reserve Board of Governors is the main governing body of the Federal Reserve System. It is charged with overseeing the 12 District Reserve Banks and with helping implement national monetary policy."
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nice sharing with us here
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