Thursday, 28 July 2011

Penny Plan budget is better than driving on cruise control with automatic spending increases each year.

Senator Mack's Penny Plan is generating buzz.
No automatic baseline increase.
Cut the existing budget 1% a year for six years.
Sen. Connie Mack (FL) R
Cap that spending level and go for a balanced budget law.

CBO Baseline Budgeting means the US Government can burn 7.0% more money next year than this year and claim there was "no increase".  And do it again next year.  This is a crazy time to be driving on cruise control.

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