Jindal: With $16 Trillion Debt, We’re Already Over the Cliff

Thursday, 06 Dec 2012 08:15 AM

By Martin Gould

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America’s huge deficit means the country is already over the fiscal cliff — and the fiscal mountain, the fiscal black hole and even the fiscal Armageddon await, Louisiana Gov. Bobby Jindal believes.

And Jindal, who is already positioning himself for a 2016 White House run, has put forward a four-point plan to try to fix Washington and keep it from worsening the nation’s finances even further.

Writing in Politico,
Jindal says, “Washington already drove us off the fiscal cliff while no one was looking.

Editor’s Note: Who’s to Blame for the Fiscal Cliff? Vote Here!

“A nation that has a $16.3 trillion debt, a debt that is larger than our entire economy, has already driven through the guard rail and is in free fall with the cliff somewhere in the rear view mirror.”

Jindal argues that the only way things can change is with major structural reform in Washington. “Congress and this administration are psychologically incapable of getting our fiscal house in order without laws that give them no other alternative,” he writes.

His plan for change includes:
  • a balanced budget amendment. “This is an idea that is supported by virtually every American who does not live in the 202 area code”
  • a cap on federal spending tied to a percentage of the gross domestic product. “Eighteen percent is a reasonable number in my book, but almost any number would be a victory at this point.”
  • a super majority to increase taxes. “Washington hates this idea, so it should be pursued with vigor.”
  • Term limits. “We can’t do that. But we should. And while we are at it, how about forbidding congressmen from lobbying for 5 years after they leave office?”

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