Futility: 12 Plans to Cut the Federal Budget (in 1986)

Gary North - December 10, 2019

If you think there is any way this government will not go bankrupt, stiffing the geezers good and hard, go to this page. Click print PDF. It will not print. It will open.

Print out pages 53 to 59. Read them.

There are short articles by Art Laffer, Tom DiLorenzo, the late, great Warren Brookes, and nine more economists. They all had plans.

So did Ronald Reagan. He wanted to spend, spend, spend. He won. He set the Republican pattern. Bush I added to it. Bush II pulled the plug on Clinton’s policy of a sort of balanced budget. (Clinton looted Social Security taxes to get his budget into black ink. All Presidents do.)

Balance the budget today? (Soft-core budget-cutting.)

Run a surplus to pay off the federal debt? (Hard-core budget-cutting.)

With the present value of the unfunded liabilities at $222 trillion?

Surely, you jest.

Every plan to balance the budget will wind up like these 12 plans: discarded by Congress.

The Great Default is coming.

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Published on November 15, 2012. The original is here.