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Reason Alert: Rep. Ron Paul's Balanced Budget Plan

Plus, Gov. Gary Johnson Goes to Occupy Wall Street and Gov. Mitt Romney Has a Lying Problem

October 21, 2011

- Rep. Ron Paul Shows How to Balance a Budget
- Mitt Romney's Lying Problem
- Reason's Latest Occupy Wall Street Coverage
- 5 Myths of Healthy Eating
- New at Reason

Rep. Ron Paul Shows How to Balance a Budget
In his syndicated column, Reason magazine’s Jacob Sullum writes: “Next month the Joint Select Committee on Deficit Reduction, a 12-member subset of Congress that Congress created to make the hard fiscal choices Congress itself has failed to make, is expected to propose $1.2 trillion in cuts from projected spending during the next decade. This week Rep. Ron Paul (R-Texas), who is seeking the Republican presidential nomination, unveiled a plan to cut nearly that much in 2013 alone, followed by similar cuts in the next two years, yielding a balanced budget by 2015. The contrast between the so-called super committee's goal and Paul's plan shows how pathetic official Washington's gestures of fiscal responsibility are, even in these supposedly straitened times. Paul's detailed numbers refute the myth that the budget cannot be balanced without raising taxes while challenging his opponents—none of whom has offered anything nearly as specific—to put up or shut up. Paul's plan not only extends the tax cuts enacted under the Bush administration; it reduces the corporate tax rate from 35 percent to 15 percent while abolishing taxes on inheritances, capital gains, and personal savings. It nevertheless manages to eliminate the budget deficit within three years, largely by reducing military spending, capping most programs at 2006 spending levels, converting Medicaid and other welfare programs into block grants, and eliminating five cabinet-level departments: Commerce, Education, Energy, Housing and Urban Development, and Interior.”
Watch Nick Gillespie Talk Spending on CNN's OutFront With Erin Burnett Tonight at 7 pm ET
Watch Nick Gillespie on Fox News Channel's Red Eye With Greg Gutfeld Tonight at 3 am ET

Mitt Romney's Lying Problem
Reason magazine Editor in Chief Matt Welch writes: “On the face of it, running against President Barack Obama should be a no-brainer in 2012. To win, one would think, all a Republican candidate would need to do is say convincingly that 'Unlike the incumbent, I won't make the economy worse, I won't keep spending us to the brink of fiscal catastrophe, and I won't lie to you.' Yet even with an underhanded softball toss like that, the best that we can say for Romney is that he's batting .333. On spending, as Reason Associate Editor Peter Suderman keeps pointing out, [Mitt] Romney is running against cutting the three main engines of federal budget growth: Medicare, Social Security, and defense...It is astonishing that after three full years of populist revolt against bipartisan big government, the best that the disloyal opposition can cough up is a telegenic B.S. artist who has the least credibility in the field when it comes to restraining, let alone cutting, the size of government...Are Republicans ready to get serious about their rhetoric, even if it's three decades too late? Or are they going to pursue the same strategy as Democrats in 2004, backing a 'credible'-looking prevaricator from Massachusetts?"
Romney Damns Himself Even When He Tells the Truth
It's a Fact: Democrats Learned About the Individual Mandate From GOP

Reason's Latest Occupy Wall Street Coverage
Friday Funnies: Michael Moore Occupies Wall Street
John Stossel: Occupy Wall Street Is Half Right
Video: Gov. Gary Johnson Heads to Occupy Wall Street
Nick Gillespie: Stingy 1 Percenters Stand in Solidarity with #OWS
Video: Occupy Protester Wants to be Taxed More
Video: NYPD Punches Protester
Los Angeles Unified School District Fires Substitute Teacher After Occupy Video
An Illustrated Guide to the Signs at Occupy Wall Street
Occupy Wall Street Should Set Sights on Fannie and Freddie Too

5 Myths of Healthy Eating
In a column for the Washington Post, Reason magazine's Katherine Mangu-Ward writes: "New Jersey Gov. Chris Christie’s decision to stay out of the Republican presidential race means that the American people will be spared months of discussion about his ample waistline and the bad example it sets. Nonetheless, with first lady Michelle Obama urging everyone to get moving, obesity remains a political hot potato, or maybe a tater tot. Below, a helping of skepticism about the causes of Americans’ poor eating habits — and the effectiveness of political fixes." Mangu-Ward dispels five myths, including, "eating healthy is too expensive," "there are too many fast-food restaurants in low-income neighborhoods," and food "advertising forces people to make unhealthy choices."

New at

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Peter Suderman Reviews Homeland

Nick Gillespie: Social Security Goes Up, No Wonder Kids Hate Their Grandparents

Nick Gillespie: On Spending, Americans Are Like Vinny Barbarino

Gov. Gary Johnson on Crony Capitalism, the DEA and Pardons for Drug Offenders

On Drug Policy, Americans Are Dazed and Confused No More

It’s Time to End the Mortgage Interest Deduction

The Miracle of Oil From Sand

Is Transhumanism Coercive?

Soak the Rich or Soak the Super Rich?

Video: Matt Welch Talks Homes for Visas on Freedom Watch

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