H.R.444 - Require Presidential Leadership and No Deficit Act

To require that, if the President's fiscal year 2014 budget does not achieve balance in a fiscal year covered by such budget, the President shall submit a supplemental unified budget by April 1, 2013, which identifies a fiscal year in which balance is achieved, and for other purposes. view all titles (5)

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Short: Require Presidential Leadership and No Deficit Act as passed house.
Short: Require a PLAN Act as passed house.
Short: Require Presidential Leadership and No Deficit Act as introduced.
Short: Require a PLAN Act as introduced.
Official: To require that, if the President's fiscal year 2014 budget does not achieve balance in a fiscal year covered by such budget, the President shall submit a supplemental unified budget by April 1, 2013, which identifies a fiscal year in which balance is achieved, and for other purposes. as introduced.

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manofwar9307 02/13/2013 8:19pm

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↑ Overall Rating: 5.0 | 1 of 1 found useful.

This is a good idea once we have the budget closer to balancing, but eliminating over $1 trillion dollars in one year is unrealistic. Even over the course of 5 years, such drastic budget cuts could result in the economy falling back into recession.

I think a better approach would be to require that the next budgets reduce the deficit by at least 10-15% every year. This puts us on line to reduce the budget without straining the economy too much and gives the Government time to decide which programs can be cut or reduced.

Once the deficit is eliminated, or at least fairly close to being eliminated, we should then require that the budget stay balanced or leave excess funds to be used to reduce the National Debt until it is under $7 trillion (about half of the current GDP).