How To Run a Federal Budget Surplus

Cut spending until income equals outflow. Then cut it some more.

That's it? That's it.

"But what about. . . .?"

This is the universal response that guarantees future government bankruptcies, all over the world. Three words: "But what about," plus a question mark

Nothing in American political history ever since the last year of the Jackson Administration in 1836 has overcome the effect of these three words: "But what about?" There was no national government debt in 1836. Also, that was the last year of the Second Bank of the United States as a government-licensed central bank. Then the recession of 1837 ended the year of debt-free living for Congress. It never happened again.

To head off "But what about?" my recommended reform mandates an across-the-board cut of spending by every Federal agency. No exceptions. Every budget is cut by the same percentage.

"But what about. . . .?" Yes, that one, too.

"But you can't mean. . . ." Yes, I do.

Greece has run out of other people's money (OPM). It ran out of its own money long ago and became addicted to OPM. It is now experiencing withdrawal symptoms. It will happen here unless we act. We will not act in time.