My suggestion for US budget reform

Let the fiscal cliff happen in 2013 to reduce the present 1 trillion of deficit spending by approximately 670 billion.  Continue working on reforming the tax code in 2013 in order to remove other deductions and loop holes which the country presently cannot afford.

At the same time hyper focus business and government policy on increasing energy-efficiency and developing domestic energy of all kinds in order to stop the capital drain of some $400 billion each year that America is spending on foreign oil (2011 numbers shown here).

This will be a solid investment that will create valuable American jobs and finally set the country on a new financial paradigm.  It will also plug a meaningful hole in the bottom of the cash flow bucket and finally turn the nation on a sustainable path to fiscal recovery.   By present policies, energy self-sufficiency for America is estimated to be attainable within 10 years.  Focus seriously on this today, and more rapid progress starts now.  Then we would have something to truly be bullish about.

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2 Responses to My suggestion for US budget reform

  1. John C says:

    Oil production will boom (of course that means we will only deplete reserves faster, but that’s for another day). LNG investors looking to profit huge from global nat gas arbitrage. The US energy boom has already started.

    But as for allowing the US to jump off the fiscal cliff? Don’t you know that recessions have been banished? We can’t have recessions! They’re bad. What governments want is the ‘cancer economy’. You know, it just keeps growing and growing and growing, eventually destroying the host upon which it thrives.

  2. Barry says:

    I’ve got an idea …

    “Indeed, adjusted for inflation, today’s national security budget is nearly double Eisenhower’s when he left office in 1961 (about $400 billion in today’s dollars) — a level Ike deemed sufficient to contain the very real Soviet nuclear threat in the era just after Sputnik”

    David A. Stockman, who was the director of the Office of Management and Budget from 1981 to 1985 under President Reagan.

    http://www.nytimes.com/2012/08/14/opinion/paul-ryans-fairy-tale-budget-plan.html?_r=0

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