Presidential Nominee Gary JohnsonOn how to reduce spending and bring down the deficit
THE U.S. IS BORROWING OR PRINTING MORE than 40 cents of every dollar the government spends today. The math is simple: Federal spending must be cut not by millions or billions, but by trillions. And it must be done today.
Submit a Balanced Budget to Congress, not five or ten years down the road. End excessive spending, bloated stimulus programs, unnecessary farm subsidies, and earmarks. Reassess the role of the federal government and identify responsibilities that can be met more efficiently by the private sector. Recognize that you cant have limited government at home, but big government abroad.
MOST PEOPLE IN WASHINGTON SEEM TO THINK that we can control spending and balance the budget without reforming Medicare, Medicaid and Social Security. This is lunacy!
Identify and implement common-sense cost savings to place Medicare on a path toward long-term solvency. Block grant Medicare and Medicaid funds to the states, allowing them to innovate, find efficiencies and provide better service at lower cost. Fix Social Security by changing the escalator from being based on wage growth to inflation. Its time for Social Security to reflect todays realities without breaking trust with retirees.
THE FEDERAL RESERVE SHOULD BE TRANSPARENT and its actions held to the same level of scrutiny as any other federal department. The American people deserve to know the extent to which the Fed has purchased private assets at home and abroad.
The role and the activities of the Federal Reserve are long overdue for examination, reassessment, and ultimately, thoughtful reform. Can the Federal Reserve pursue both stable prices and full employment, or does its currency manipulation cause malinvestment, inflation, and prolonged unemployment? Conduct an audit to provide true transparency of the Federal Reserves lending practices. Establish clear Congressional oversight. Get the Federal Reserve out of the business of printing money and buying debt through quantitative easing.