Tuesday, March 17, 2015

Budget Committee Document...


Here is a link to the House Budget Committee's latest budget laugher:

 "A Balanced Budget for a Stronger America" 

LOL!

Here are some choice tid-bits from these libertarian morons:

First and foremost, our proposal balances the federal budget.
The $5.5 trillion in decreased spending and the end to annual deficits will mean we can begin to pay down the national debt and stave off a severe and completely avoidable fiscal crisis in the future. 
This is not an accounting exercise. A balanced budget is not important just so the numbers on a piece of paper add up. [Ed: LOL!!!!] 
A balanced budget means a stronger economy where families and businesses can have more confidence... 
 a balanced budget means beginning to earn back the trust of the American people....
It demonstrates that policymakers have the discipline to make responsible decisions that respect hard-working American taxpayers – the individuals, families and businesses all across our country that make choices and sacrifices every day...

It goes on and on... proof positive that our positions of rule are occupied by the lowest form of incompetent, unqualified, disgraced libertarian humans.

The only solace we can take from the report is that they plan on reaching a point of spending $43T+ within 10-years from today when we have a current rate of $3.8T annual (both using their accrual basis) so we are probably looking at getting to over a $5T cash basis spending rate in a few years from now, which would be meaningfully more than our current $4.2T cash basis annual rate.

This would lead to at least (probably a bit more than imo) a continuation of the mildly positive economic growth and mediocre (at best!) outcomes we have been experiencing for the last 3 years or so.

In any case, it is still quite humiliating to have contemptible people like these behind the authorship of this document in positions of authority in our government institution.


8 comments:

Broll The American said...

"A balanced budget means a stronger economy where families and businesses can have more confidence a balanced budget means beginning to earn back the trust of the American people."

This sentence doesn't make any sense from a grammatical or accounting point of view.

Broll The American said...

Actually I went and read the original document... either the quote featured in the blog posting was transposed incorrectly or you were editing and paraphrasing in order to make them sound dumber than they are already.

Matt Franko said...

fixed Broll... I combined two excerpts... still doesnt help...;)

mike norman said...

"the lowest form of incompetent, unqualified, disgraced libertarian humans"

Indeed. Ignorance and dogma to a sickening degree.

Unknown said...

Statement of Mark Blyth Professor of Political Economy
Brown University Before the Committee on the Budget
United States Senate Hearing on “The Benefits of a Balanced Budget”
March 11th 2015
https://www.youtube.com/watch?v=AQUv1U0r-wM

http://www.budget.senate.gov/democratic/public/_cache/files/70913d8f-7954-4f75-a75e-1c71264b615f/blyth---senate-testimony-on-balanced-budgets-copy.pdf

Tom Hickey said...

Thanks, Jan. Promoted to a post.

Tom Hickey said...

A balanced budget means a stronger economy where families and businesses can have more confidence..
a balanced budget means beginning to earn back the trust of the American people....
It demonstrates that policymakers have the discipline to make responsible decisions that respect hard-working American taxpayers – the individuals, families and businesses all across our country that make choices and sacrifices every day...


"Confidence," "trust," "discipline" — all moralizing, no economics. Oh wait, neoclassical economics is all about "confidence."

Anonymous said...

Yeah! Confidence and "Game".

Darmok and Jalad at Tenagra. When the Exchange Rate fell.