The Debt Limit, Budget, Deficit and Debt: Update

So, yesterday I posted about a possible solution to the deficit and the debt. In those plans I accommodated those on the right who insist on a plan that includes no new revenues due to tax increases.  Further, I accommodated those on the left who insist on a plan that doesn’t cut; in fact my plan GROWS government each and every single year.

As I ended my analysis I demonstrated a method by which both of those targets were met AND we backed away from the debt limit that we are struggling with today.  The solution began to reduce the the deficit in year 1.  And it balanced the budget in year 19.  It’s the perfect trifecta.

But what if we can do better?  What if we can reduce the amount of time in which we are free of the deficit?

I think we can:

All we have to do is is take one giant gulp and step back our level of spending to pre-stimulus years.  That is take us back to the level of spending we last saw in 2008.  This is what we get:

Not bad, not bad at all….We reduce the time from 19 years all the way to 11.  And yes, this would represent a massive reduction in spending.  And maybe, no-not maybe, for sure, some of that spending has to be cut from prized programs.  This would include the military, it would include entitlement programs and would include cuts to other pet discretionary spending.  So, perhaps this is too much for you gentle reader?  How about this?  Take the 2008 spending and allow it to grow at our 4% limit like we would like, that would have made 2011 spending look like 3354.91.  What would that look like?

Maybe that’s the better compromise.  We allow 2008 spending to continue rising at 4% setting the 2011 spending at 3354.91.  This produces a balanced budget in 2026; 13 years out.

This can be done, we can do it, we only lack the will.