A Conservative Proposal for Dealing with the Debt

Jun 6, 2011 at 12:38 PM

By Bonnie Kristian

From the Conservative Action Project comes a set of suggestions for dealing with the staggering $14 trillion national debt:

1. No Tax Increases.

2. The total amount of spending cuts included in any increase to the debt ceiling must at least equal the increase in the debt ceiling.

3. Inclusion of $300 Billion of spending cuts from the recommended options proposed by the House Republican Study Committee Spending Reduction Act of 2011, including Defunding “Obamacare”—officially known as the Patient Protection and Affordable Care Act (PPACA).

4. Cap total federal spending at its historical average of 18% of Gross Domestic Product (GDP), and enforce this with statutory automatic spending sequestration whenever spending exceeds budget levels or the debt exceeds the new limit.

5. A Balanced Budget Amendment (BBA) with strong protections against federal tax increases and including a Spending Limitation Amendment (SLA) with statutory, enforceable total spending caps to reduce federal spending.

Read the whole proposal here. What do you think -- is this enough to stop the debt? A good start? Too much? Give your view in the comments.

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Cap the total number of Federal Reserve Notes, paper and electronic, at the current number, period, forever. Make it a felony offense to increase the amount of fiat currency. Accept the damage that has been done, but stop it there, and let the whole world know that the value of the dollars they now hold is (finally) fixed, and can't be manipulated on a whim. If we do this, we have hope of avoiding the complete collapse that Schiff and others are expecting.

Submitted by msouth (not verified) on June 6, 2011.

legalzie freedom!

Submitted by Anonymous (not verified) on June 6, 2011.

The public pays lip service to wanting to do something about the debt, but then doesn't seem to want cuts since they don't truly get how bad it is and those on our side fail to bother explaining it better or repeating it until everyone knows. I think they mistakenly taken it for granted that everyone "gets" what seems obvious to us.

There won't be change until the public truly gets how bad US finances are. The public yawns when it hears $trillions in debt thinking "big number, but its a big country". since they have no perspective. We need to rephrase the issue:

The federal government will need >$1 million per household to pay its IOUs! > $116 trillion ="official" debt plus money short for future social security, medicare, etc Even its "official debt" of $14.2 trillion is $123,754 per household! Details at http://StopNationalDebt.com with links to contact congress & complain.

Since: "POLL REVEALS: Americans Are Still In Deep Denial About The Deficit" http://read.bi/h6QDGR If they realized how bad it is politicians would need to act.

Be among the first to join the Facebook "event' ">$1 million/household to pay federal IOUs is too much! Balanced budget NOW!" http://www.facebook.com/event.php?eid=222165047809308 since if you don't spread the word, who will? We need to spread the word virally to educate non news-junkies. Its online&ongoing.

Submitted by Stop National Debt (not verified) on June 6, 2011.

As long as the Federal Reserve is around to promote a highly-leveraged fractional reserve banking system we will not get out of debt. We have to get back to honest money.