Budget Chef Presents: How to Balance the Budget W/O Raising Taxes!

by Veronique de Rugy

Channeling Julia Child’s cooking videos, Nick Gillespie of Reason TV puts out this really amusing piece on how to balance the budget without raising taxes.

I have to say that the menu is visually unappealing — as it always is in Child’s videos — but the message is clear: It’s easy to balance the budget.

In fact, it is easier than Gillespie makes it look. First, you don’t have to touch raw pork, which is always a plus. Second, between 2011 and 2020, the Congressional Budget Office estimates that total federal outlays will total a whopping $42.1 trillion (in 2010 dollars); so to bring outlays down to revenue, we need to cut $1.3 trillion in total expenditures over the next ten years. Third, it means that you don’t even have to cut spending, really: You just have to trim $130 billion each year from the growth in spending.

Full disclosure: I like this video in part because it is based on my piece with Gillespie on “How to Balance the Budget Without Raising Taxes.”

The Corner

The one and only.