It's Simple to Balance The Budget Without Higher Taxes

Politicians and interest groups claim higher taxes are necessary because it would be impossible to cut spending by enough to get rid of red ink. This Center for Freedom and Prosperity video shows that these assertions are nonsense. The budget can be balanced very quickly by simply limiting the annual growth of federal spending.

Cato Institute Scholar Dan Mitchell has a new video explaining that it is easy to balance the budget without raising taxes on anyone. In his video, he explains that we must rein in excess government spending. According to Mitchell,

Interest groups that are used to big budget increases will be upset if spending growth is limited to 1 or 2 percent each year. It means entitlements will need to be reformed. It means we might need to get rid of programs and departments that are not legitimate functions of the federal government. You better believe that these changes will cause a lot of squealing by lobbyists and other insiders. But that complaining will be a sign that fiscal policy is finally heading in the right direction. The key thing to understand is that there is no need for tax increases.

Please watch and share the Center for Freedom and Prosperity video below!