A proposal to get the government back on track
Reader feedback at end
E minus 71 - When the going gets tough, the tough get going,” or at least that’s how the saying goes. The outcome of the upcoming elections remains to be seen, but there will certainly be a great deal at stake – and ample opportunity for unfavorable outcomes.
In the meantime, we reworked the Contract with America proposal that was presented in last week’s entry. The principal changes: (A) Add two proposed actions prior to 1/31/21; (B) Rearrange the list of 15 bills to be passed by a Republican House in the first 100 days and provide more time (until the end of 2021) for five of them.
Here’s a link to our revised proposal, including underlying references. Contract with America 2.0, 8/22/20.
Some of the proposed bills may seem unrealistic at the moment, e.g., Bill One calling for the budget to be balanced in five years followed by adoption of a balanced budget amendment. Bear in mind, however that (1) a BBA was the first item in the 1994 CWA, and (2) the federal budget was, in fact, balanced within about five years. There was no BBA, however, and deficit spending was allowed to return with a vengeance over the last 20 years.
Could such a success be achieved again, and this time made permanent? Who knows, but it definitely won’t happen unless someone makes the effort. As Samuel Johnson once put it: “Nothing will ever be attempted if all possible objections must first be overcome.”
At this point, we’ve set the ball rolling by pitching our proposal to the Republican leadership. The principal letter was addressed to the House minority leader, who seems like the logical candidate to spearhead the effort, with copies to President Trump and Senator Mitch McConnell. Letter to Rep. Kevin McCarthy, 8/22/20. Copies of the proposal will also be sent to other contacts in a quest for feedback and support.
Coming next week: a comparative assessment of the Democratic and Republican national conventions.
#For my sense of where this race is headed, see: "Why this Vegas oddsmaker just made the biggest bet of his life on Trump," Wayne Allyn Root, rootforamerica.com, 7/20/20. - Retired finance executive
#Balanced Budget Amendment is unrealistic as the debt service system is busted. No way to even reduce deficit. No way to take part of GDP and use that to pay current debt and spending. Hopeless debt levels and dollar falling so inflation is going to roar. - SAFE director
Comment: The obstacle is not impossibility, it is a lack of political will.