This is an earlier post fro 2011 that still is very pertinent today.
I would like to propose a new line of thinking in solving our debt crisis. It is derived from living through several industry crisis. The proposal is what I call the 0 10 10 plan.
Today, we have a baseline budgeting system that is using an 8% baseline. What that means is next years budget starts 8% higher than the previous years before any new program increases or reductions. Therefore, with this years budget at 3.729T according to Wikipedia http://en.wikipedia.org/wiki/2012_United_States_federal_budget. that would mean the baseline for the 2012 budget would be 298B more or a total of 4.027T. With the economy struggling to grow at 1 to 2% this is a path to the end of the United States and much of the world will go down with us.
This is absolutely unsustainable and irresponsible!
So my proposal starts with a zero baseline budgeting process. There are no automatic…
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