The One Millionth Budget Proposal

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By Douglas A. McIntyre Published
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Rep.Kevin Brady (R-TX), another representative who likes to grin in front of TV cameras as if he has all the answers to America’s financial problems, is the the Vice Chairman of  The U.S. Congress’s Joint Economic Committee. He has put together a complicated proposal as a road map for a vote on a new budget that he believes will settle all debate in favor of his genius.

Brady wants to increase employment while the size of the American government is cut.

At the center of his proposal are these two essential principles:

“Prioritization of Spending: The President would be required to prioritize all spending programs in his budget submission in order from most essential to least essential.”

And: “Sunset Commission: All agencies and programs would be terminated over a 12-year cycle unless Congress votes to extend them.”

Brady’s suggestions are insane. They are only a set of plans that will lead to more rancorous debate about the methods by which the budget should be established and handled over the long term. Put another way, they are naive.

The President already sets priorities when he sends his Budget to Congress. The trouble with the process is that nearly no one in his own party or the Republican party believes that the Administration’s priorities have any value. The question of what is “essential” is at the heart of every major debate about the nation’s financial future. Brady’s plan is  redundant.

The war over the existence of federal agencies has gone on since Congress was established. A decision on which agencies survive is tantamount to which parts of the government remain.  That is at the core of philosophies about the role the government has plays in society and how the government shapes society in the future.

Members of Congress also use create and sustain jobs in their districts through government agencies.

Brady’s proposal can be thrown into the closet with dozens of others.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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