Try These Budget, Spending Changes
Posted: February 21, 2013
Three budget and spending principles I would like to see included in the House and Senate rules are:
1. Spending designated for capital investments in infrastructure (e.g. roads and bridges) and defense (e.g. ships and aircraft) will be financed with long-term government bonds.
2. Annual operating expenses, including interest expense on the national debt and a 5 percent contingency fund for surprises (e.g. natural disasters), will not exceed projected annual tax revenues. If the contingency fund is exhausted, incremental spending will be offset by reductions in the approved annual budget. If the contingency fund is not exhausted, the remaining balance will be used to reduce the national debt.
3. In the event of a war, a national sales tax will be implemented to offset the costs of the war.
If you agree, please contact your elected officials in Washington, D.C.
1. Spending designated for capital investments in infrastructure (e.g. roads and bridges) and defense (e.g. ships and aircraft) will be financed with long-term government bonds.
2. Annual operating expenses, including interest expense on the national debt and a 5 percent contingency fund for surprises (e.g. natural disasters), will not exceed projected annual tax revenues. If the contingency fund is exhausted, incremental spending will be offset by reductions in the approved annual budget. If the contingency fund is not exhausted, the remaining balance will be used to reduce the national debt.
3. In the event of a war, a national sales tax will be implemented to offset the costs of the war.
If you agree, please contact your elected officials in Washington, D.C.
George Pace
Harrisonburg
Harrisonburg