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.Published in