2/13/10 2:04 PM EST NOTE ! TODAY IS NOV. 23,2011
President Barack Obama is hailing pay-as-you-go BUDGET legislation he
signed Friday night as one in a series of crucial steps needed to snap
Washington out of a destructive pattern of overspending.
The PAYGO compels NEW spending or tax changes to not add to the
federal deficit. Not to be confused with pay-as-you-go financing, which
is when a government saves up money to fund a specific project. Under
the PAYGO rules a new proposal must either be "budget neutral"
or offset with savings derived from existing funds. The goal of this
is to require those in control of the budget to engage in the diligence of
prioritizing expenses and exercising fiscal restraint. The interest on
the national debt is $1 billion a day and rising. The unfunded
liabilities of the country is $104 trillion.
THE WASTE IS IN THE GOVERNMENT, the money to pay needs to come out of the government not the taxpayers. Today it was reported that for the past 5 years, the Social Security Trust fund has paid $400 billion to dead federal employees. Forging one’s name is a crime, the taxpayers need to demand repayment and prosecution.
According to a September 2010 report from the Small Business Administration, total regulatory costs amount to $1.75 trillion annually—enough money for businesses to provide 17.5 million private sector jobs with an average salary of $100,000.As of 2008, small businesses—which have created 64 percent of all new jobs in the past 15 years—face an annual regulatory cost of $10,585 per employee, which is 36 percent higher than the regulatory cost facing large firms.