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| If … Congress is at an impasse over the necessary
spending cuts needed to balance the budget AND to start reducing
the federal deficit … |
|
| If … Congress is at an impasse over the necessary tax increases needed to balance the budget AND to start reducing the federal deficit ... |
|
| If … Congress
is at an impasse over a compromise between necessary spending cuts and necessary tax increases needed to balance the budget
AND to start reducing the federal deficit … |
|
| Then … the only other alternative is to " grow our way out of this
mess " |
|
|
|
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| Since 1950 … the
yearly average of Federal revenue as a percent of GDP has been 18% … total Federal revenue has averaged 18% of GDP
every years for the last 61 years … |
|
| Federal
spending is running $3.8 trillion per year … |
|
| Federal
revenue is only running $2.2 trillion this year and projected to be flat next year … |
|
| To have a budget surplus we need Federal revenue of at least $4 trillion …
who really thinks Congress will spend less next year … |
|
| To repeat the 61-year average of revenue being 18% of GDP … GDP has to grow to $22 trillion … |
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| GDP ONLY has to grow by 47% to " grow our way out of this mess " … |
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| Governor Perry --- how will you grow GDP by 47% ? |
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| Governor Romney -- how will you grow GDP by 47% ? |
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| Congressman Paul -- how will you grow GDP by 47% ? |
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| Godfather Cain -- how will you grow GDP by 47% ? |
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| Congressman Bachmann --- how will you --- never mind … |
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| President Obama -- can the unions grow GDP by 47% ? |
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