|The budget, personified.|
The federal budget is not a single entity but a collection of individual building blocks, each aggressively supported by its own set of lobbyists. Absolutely no thought is given to what those individual blocks will join into building.
|The budget, personified. The Republican version is missing a heart.|
If you really want to balance the budget it can be done quite easily. One, restore the marginal tax rate to where it was in 1955, a time most everyone agrees was the golden age of the American economy. That would be 91% tax on income over $3.2 million, inflation adjusted from $400,000.
Two, cut the defense budget by two-thirds. Even then it will still be twice the size of the Chinese defense budget.