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The only way to balance the budget is with tax rate cuts, promoting booming economic growth, and restrained spending growth, enabling surging revenues from the growth to zoom past the spending.
FORBES: For The Republicans There's An Opportunity At The Fiscal Cliff
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Mr Blackburn said passing on the cost to recipients was the only fair way to balance the books and prevent further budget cuts, as so many residents were in receipt of council tax benefits.
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And in order -- if you just wanted to cut the deficit to balance the budget, only on non-discretionary -- or on discretionary non-defense spending -- so if you wanted to exempt out all the entitlements, exempt defense, you'd have to cut all those other things by 60 percent -- 60 percent.
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The President's budget would not only reach balance, it would reach balance the right way.
WHITEHOUSE: Franklin D. Raines Testimony to House Budget Committee, 02/03/1998 | The White House
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But everyone knows that the only way to get the budget into some reasonable semblance of balance will be to either cut Medicare benefits or increase taxes.
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House Republicans say they want to balance the budget in a decade with only spending cuts and no tax hikes.
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But whichever baseline you prefer, Perry would require massive spending cuts if he is to balance the budget as promised while collecting only 14.6 percent of GDP in revenues.
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This budget was, as usual, a triumph of short-termism, in which politicians on both sides proclaimed their disciplined determination to reach budget balance by 2002, only to let the figures rip thereafter.
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To get the rest of the way there will require a bipartisan process, which is why we are calling for a bipartisan fiscal commission tasked not only with addressing our long-term fiscal imbalance, but also producing plans that will balance the budget, excluding interest payments on the debt, by 2015.
WHITEHOUSE: Detailing the FY2011 Budget
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For example, if the structural primary balance (budget balance excluding debt interest) in 2015-16 turns out to be only one percentage point better than the OBR now expects, our public sector debt would now be on a long term sustainable path.
BBC: OBR report: Be aware, not afraid