Monday, September 24, 2012

Re: Deficit

I would settle for any cut that would benefit the economy by reducing wasteful spending.   I would much prefer a freeze on overall spending. 

larry.r.trout wrote:

'Mitt Romney says he would balance the federal budget by the end of his second term…


Recently, Romney said that on his first day in office he would cut non-security discretionary spending by 5%. Doing so he estimates would reduce spending by $500 billion a year by the end of his first term.'


Sounds good. Unfortunately he probably will not win, and if he does win, he can't cut spending immediately by 5%. He would have to sign legislation passed by congress to cut it, unless he threatened to veto any budget that did not cut by 5%


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