The Omnibus Budget Reconciliation Act was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton. It has also been referred to, unofficially, as the Deficit Reduction Act of 1993. Part XIII, which dealt with taxes and is also called the Revenue Reconciliation Act of 1993.
In 1996, Newt Gingrich and the Republicans took over the house (Contract with America) and between these two conflicting factions was able to balance the federal budget and led to actual surpluses for the Fiscal Years 1998, 1999, 2000, and 2001. The total deficit was well on the way to be eliminated.
It is well known that neither Mr. Clinton or Mr. Gingrich were fond of each other. But these two differing sides got together and did something good for the country. The same thing needs to happen now. We don’t need to wait until the next election. We need the Executive and Legislative branches of the federal government to commit to working out not just a balanced budget, but a LONG TERM FINANCIAL PLAN FOR THE UNITED STATES OF AMERICA, that lays out specific targeted financial goals for one year, five year, ten year and even more so that the 32 Trillion plus deficit could be eliminated and we have a PERMANENT surplus instead, and even eventually reduce or even ELIMINATE the need for income, corporate, and stock/dividend taxes.
This is not something that will happen overnight. It has taken years and years to get into the current financial quagmire that the country is in, and It will take years to turn the situation around. Some of you (including me) might be gone by the time this idea/concept gets implemented and at work. Wouldn’t it be wonderful if instead of leaving a mountain of debt, we made it possible for the next generation for their federal government to be debt-free and (I know it sounds way-out) tax-free?
It will take the finest financial minds this country has, but it can be done and we the people must insist on it.
All that is needed is for We the People to participate. We don’t need to wait until the next election. You don’t have to travel to your precinct voting place and stand on line. You don’t have to wait until regular Monday through Friday 9-5 business hours. You don’t need to support a candidate. All that is needed to invest a very few minutes of your time by contacting your two senators and your house representative. You are voting for an idea. Most important, it will cost you NO MONEY (unless you want to count what it costs to use your phone or whatever device you are using to communicate with.)
If you support this idea/concept, or even think it has any merit at all, please commit to a minimum of a few minutes to contact your two senators and your congress person and urge that they commit and go to work to make this general concept into a specific plan that will revolutionize our country’s finances. When you do this, you are absolutely entitled to give your opinion the specifics of how this plan would work, but congress people and senators get paid 174000 a year and it is THEIR job to actually figure it out and get it implemented. They will not get down to business and figure it out until we the people tell them to do it.
If you think this is a bad idea, or just too impossible, please don’t use that as an excuse to do something that only takes a few minutes and doesn’t cost any money and tell someone who is elected and in office to SOMETHING about this fiscal abomination which is a threat to our physical security as a nation, and is a horrible burden to be leaving to the children and grandchildren of our country.
Let’s not just balance the annual federal budget, but create long-term financial solvency that will make the United States a true leader in the world of nations and leave a positive financial legacy for our children and future generations.
William M. Lord
natfinplan@gmail.com
Facebook: https://facebook.com/nfp1954