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Monday, September 27, 2010

The 7% Solution to Our Debt

The solution to our economic crisis is simple: take money from politicians. After all, they have been stealing it from us their entire careers.

Republicans and Democrats have been unable to stop runaway government spending. So, since we are 13 trillion dollars in debt, WE THE PEOPLE need to “help them” stop spending.  We can no longer afford to have every innocent baby in this country born over thirty thousand dollars in debt. We can no longer afford to have the government spend 7 million dollars per minute every minute of every day.

“The 7% Solution to Our Economic Crisis” is simple: the salaries, benefits, and pensions of the president and congress will be cut 7% per year until government spending is reduced enough to balance the budget and rid us of debt. In addition, any outside income received by politicians while in office, after taxes are paid, must be given to the government to offset the debt. And finally, any income above their average income while in office, for a period of two years after leaving office, must also be given up to the debt.

This simple plan will force politicians to be public servants instead of get-rich-quick carpetbaggers. Let me make a prediction: if this plan is implemented the budget will be balanced at an impressively fast rate.

This is the only way that our politicians will have enough backbone to actually cut runaway government spending. THIS HITS THEM IN THEIR POCKETBOOK. In seven years the politicians will take a 49% hit in their salaries, benefits, and pensions if they have not reduced government spending enough to balance the budget and rid us of debt. In 14 years the politicians will suffer a 98% reduction in pay if they have not done their job.

All fiscally responsible people, Republicans, Democrats, Libertarians, Tea Party members, Independents, and the undecided should get behind this plan before it’s too late. All the people in America, who actually balance their own checkbooks, should support this plan - as should fiscally responsible people from all the other political parties in America that I have not mentioned.

Let’s face it, the Republicans and Democrats are too busy fighting each other for power in Washington D.C. to fight for us. It’s WE THE PEOPLE that have to use our power, before it is taken from us forever, to fix things.

Let’s be clear on the rules: our budget must be balanced by reducing spending, not by raising taxes. It is runaway wasteful spending by both parties that is the problem. We have plenty of taxes already. As John F. Kennedy, a tax-cutter, said, “…an economy constrained by high tax rates will never produce enough revenue to balance the budget, just as it will never create enough jobs or enough profits.”

From this day forward, we should not elect any politician that does not sign a pledge to abide by “The 7% Solution to Our Economic Crisis.” And when all these pledge-signing politicians are elected they should make it the law of the land. We should do this on the Federal level and then state by state starting with the bankrupt ones like California, Illinois, and New York.

By accepting the “The 7% Solution to Our Economic Crisis” for out-of-control government spending our politicians can demonstrate that they are really devoted to helping our economy, instead of seeking power, money, and glory for themselves.