The Korea Times
In one respect, the soaring national debt is a lot like the weather. Everybody complains about it, but nobody does anything about it. Nobody, that is, but Sen. Rand Paul, the Kentucky Republican. Eight years ago, Sen. Paul introduced his “Penny Plan Balanced Budget,” an effort to balance the federal books within five years. Under his proposal, the government would have spent one penny less for every dollar it spent in fiscal 2018 for each of the next five years “at which point balance is reached.” Spending would then have grown at 1 percent annually. The plan did not touch Social Security and left it up to individual agencies or Congress to make the budget adjustments. Paul also noted that total spending would have still increased by 14.6% over a 10-year window. “Only in Washington,” his news release stated, could such a spending bump “be characterized as a cut.” Needless to say, Paul’s proposal was relegated to the circular file in a town where elected officials have developed a deep addiction to spending other people’s money without limitation as a means of self pre
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