When John Thune floated his "Deficit Reduction and Budget Reform Act of 2010," the Wonk Room noted that Thune's math was a bit off. His deficit reduction plan would create a joint committee, ten members from the House, ten from the Senate, equal numbers from each party (ah, spoken like a member of the minority) that would propose budget cuts to reduce the deficit by 10% every year.
Ever hear of Zeno's paradoxes? If you want to get to Hy-Vee, you first have to cover half the distance to the store. Then you have to cover half of the remaining half of the route. Then again, and again... nuts! You never get your grapes!
Ditto but worse with Thune's 10% plan. If enacted, his plan would chop the deficit down to 90% of the starting amount in year one, then 81%, then 72.9%.... We'd finally whittle the deficit down to less than 1% of the current amount by year 45 of the Thune plan... during which time the national debt would still have increased by an amount almost ten times the current annual deficit.
I knew we were going to lose - As I have mentioned before there are two things I know about our current state of city government and my analysis of it; It is predictable I’m a cynic Give...
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