Thursday, July 28, 2011

More Debt

More debt?

How much can the federal government borrow without ruining the nation?

I have a difficult time understanding how our elected leaders fail to understand simple financial facts. We as a nation (the feds) cannot sustain the unlimited spending and borrowing that the feds have accumulated over the years. It is astounding to me that we allowed this to happen.

My solutions:

1. Pass term limits on all national offices ( US Senate and US Hosue of Reps) Limit is 12 years which is plenty enough time for politicians to further enrich themselves before returning to regualr life.

2. Eliminate the Congressional retirement system. Replace it with Social Security.

3. Cut federal salaries starting with the President and all his staff, Congress, the Cabinet, and all federal workers. Reduce salaries by 10 percent every time the federal budget is not balanced.

4, Cut federal spending. Do so by eleminating the Dept of Education (we don't need it), the Dept of Commerce, the Dept of Labor, the IRS (see later), EPA, Energy, and more.

5. Repeal Obamacare. And work to remove federal interference in our health care system.

6. Privatize the Postal system, the FAA. Stop subsidies. All of them.

7. Flat tax AFTER the tax code is junked. Don't tell me we need a 5 million page tax system that clearly does not work.

8 The Flat tax would be a national sales tax AFTER repeal of all existing IRS tax codes.

What would you do to fix the mess the federal government has created?