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Domenici-Rivlin: Another Vote for Reduced Federal Spending
Posted By Conn Carroll On November 24, 2010 @ 2:00 pm In Economics | Comments Disabled
The Bipartisan Policy Center’s (BPC) Debt Reduction Task Force – a highly diverse group of private individuals – has laid out a comprehensive approach to closing the deficit and slowing the rise in national debt.
They do this through a combination of spending reductions, many though not all of which are excellent and transformational (about 53%) and tax increases, all of which are ill-advised (about 47%). The report’s near silence on Obamacare is noteworthy and unfortunate even to the exclusion of the universally abhorred CLASS Act. Their cuts to defense stand in stark contrast to the first obligation of Government to provide a strong defense of the nation.
The plan they lay out, along with the recently released Bowles-Simpson mark , and Rep. Paul Ryan’s (R-WI) Roadmap , is yet another attempt to change the calamitous course the federal budget is on today. Kudos to the Task Force Members for furthering the discussion through hard choices, a discussion which should take place in Washington and across the nation over how big our federal government should be, what we expect from it and what we want our taxes to look like.
Most noteworthy, the Task Force has a striking proposal for Medicare to transition to a premium support program. This transformative change would empower Medicare patients with control over both dollars and medical decisions and result in more efficient delivery of quality care than the current system. They would also place strong limits on federal health spending ensuring that Medicare will be an affordable and sustainable program.
Building the conversation
The Domenici-Rivlin report is the kind of big picture radical approach that needs to be discussed with the American people, as must Congressman Paul Ryan’s plan and the left’s big plan – that is whenever they are willing to discuss their long-term agenda with the public.
Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2010/11/24/domenici-rivlin-another-vote-for-reduced-federal-spending/
URLs in this post:
 Image: http://www.heritage.org/budgetchartbook/growth-federal-spending-revenue
 Bowles-Simpson mark: http://www.heritage.org/Research/Reports/2010/11/Bowles-Simpson-Commission-Co-Chair-Report-A-Good-and-Welcome-First-Step
 Rep. Paul Ryan’s (R-WI) Roadmap: http://www.foundry.org/2010/07/08/rep-paul-ryan-walks-the-walk-on-fiscal-reform/
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