We Need To Handcuff Washington

I still like my proposal that requires (unless war is declared) the federal government to spend only that amount it took in in tax and tariff revenue the prior year.  No more of the "spending based on future economic growth projections" bullshit that has gotten us to the verge of fiscal collapse.  Ya got it?  Ya can spend it.  Ya don't got it?  Ya can't spend it.

I bring this up for a reason.  Just how bad were the projections that got us to where we are today?  Investor's Business Daily tells the shocking tale (you can click on the image to enlarge it):

From surplus to debt

In 2000, the United States had $3.4 trillion in debt held by the public. Based on policies in place at the time, the Congressional Budget Office projected in 2001 that the country could pay off its debt by the year 2008 and by 2011 have a $2.3 trillion surplus.

Here's the most damning part: a whole lot of people in Washington knew these projections weren't realistic. But they wanted to believe them. And they spent accordingly.

And here we are, on the edge of the precipice.

No, I like my plan. It's easy to measure, easy to understand, easy to implement, easy to follow, prevents calamity, boosts confidence, and it's risk-free.

Which means it'll never be adopted.

Too bad. This was such a lovely country.