The Republicans are no more interested in seeing the government live within its means than the Democrats. From Tyler Durden at zerohedge.com:
Every few years, Kentucky Senator Rand Paul puts forth a quixotic proposal to balance the federal budget. It’s not the financial math that makes it a daunting task, but rather Washington’s bipartisan addiction to spending.
It predictably fails each time, but accomplishes two things in the process. First, it puts senators who’ve espoused fiscal discipline on the record as opposing it when the rubber meets the road. Second, over time, Paul’s proposals illustrate the insidious effect of kicking the can down the road—as each new proposal requires bigger cuts to push Uncle Sam to breakeven.
Paul’s first such budget resolution, in 2011, didn’t even cut spending. By merely freezing it for five years, the budget was projected to reach balance this year.
In 2018, Paul put forth his “Penny Plan,” which would balance the budget in five years by cutting just one cent out of every non-Social Security dollar for five consecutive years.
In 2019, the government’s worsening fiscal condition forced the Penny Plan to become the “Pennies Plan,” with the five-year plan now requiring consecutive 2-cents-per-dollar cuts for five years.
Things have gotten a lot worse. In just the two years since Paul’s last proposal, our federal overlords have added an astounding $11 trillion to the national debt. Interest payments on the now-$30.5 trillion balance have grown by 32%. As a result, Paul’s proposal this week required cutting six cents out each spending dollar for five years.