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  • Conservatives to Super-Committee: Think Big, Really Big

    Congressional leaders led a national debate in July 2011 about the problems of federal overspending and overborrowing.  Unfortunately, at the end of the debate, Congress enacted a so-called Budget Control Act that did little to control overspending and vastly increased borrowing.  Congress then scooted out of town for the month of August.

    Congress left behind a new Joint Select Committee on Deficit Reduction, which some call a super-committee, to make recommendations on getting spending and borrowing under control, with a statutory goal of reducing the deficit by “at least” $1.5 trillion over fiscal years 2012 to 2021.  The new Committee should take seriously the words “at least” and produce comprehensive recommendations with real substance that will both get federal spending and borrowing under control and encourage savings, investment, economic growth, and creation of jobs.

    The American people should demand recommendations from the new Committee that are equal to the great economic challenges our nation faces.  Congress must drive federal spending down — including by fixing ever-expanding entitlement programs — toward a balanced budget, while preserving our capability to protect America, and without raising taxes.  Congress should also get the federal government out of the way of the private sector, to encourage the saving and investment that generates economic growth and the jobs that millions of Americans need.  It can be done.  The Heritage Foundation has shown how, with Saving the American Dream:  The Heritage Plan to Fix the Debt, Cut Spending, and Restore Prosperity.

    Heritage delivered Saving the American Dream today to every Senator and Representative on the new Joint Select Committee on Deficit Reduction.  As the Heritage letter to the Committee explained, Heritage’s plan balances the federal budget permanently, within ten years, at no more than 18.5 percent of the economy; moves Social Security, Medicare, Medicaid, and welfare programs from a governing principle of entitlement to one of insurance, thereby preserving the programs for future generations at an affordable cost; moves to a pro-growth, job-creating single unified tax system; and maintains a strong national defense.  Heritage tailored its plan for Saving the American Dream closely to the five principles that guide Heritage in formulating and promoting conservative public policies:  free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.

    With the annual rate of economic growth at an anemic 1.3 percent, with 9.1 percent of the American work force unemployed, and with the U.S. Federal Reserve signaling not to expect much improvement before the middle of 2013, the Joint Select Committee on Deficit Reduction should begin immediately the serious work of making recommendations to Congress to get federal spending and borrowing under control and to free the private sector to invest and create more jobs.  That is a tall order, but nothing less will save the American dream.

    Heritage has urged the Joint Select Committee on Deficit Reduction to adopt the recommendations in Saving the American Dream.  The Committee should think big, really big.

    Posted in Economics [slideshow_deploy]

    5 Responses to Conservatives to Super-Committee: Think Big, Really Big

    1. David Andrews says:

      Open the Super Committee up on CSPAN and let's see which of those members want to put America first!

      David Andrews
      Noodle, Texas

    2. pfwag says:

      The Heritage Foundation is as gutless as Congress is. Balancing the budget in ten years will still add many $TRILLIONS to the debt.

      Do any of these people realize that we are currently paying a historic LOW interest rate on the debt?

      The average interest rate is currently 2.97%. The historic average is 5.5%. It Carter's reign it hit 12.5%.

      Do the math at the current and past rates on next year's $16.5T. Then do it on $20T.

      The CBO and the rest of the LSOS people in Congress use GROSSLY optimistic interest rate projections for their "ten year budget projections." Its the only way they can work without interest payments blowing the budget to pieces. When the FED's printing money ponzi scheme crashes and the rates go up notably we are deep doo-doo. Every additional dollar of debt just helps turn taxpayers, their children, and grandchildren into debt slaves on Uncle Sam's American plantation..

    3. Richard Dawson says:

      This so-called Super Committee is WRONG from the first thought that conceived it. It is a mockery of our legislative process at best and unconstitutional at worst! As I understand it, the conclusion of the Super Committee must come up for an up or down vote with no opportunity for Senate filibuster. Majority rules! Basically, the votes from seven Super Committee members will prevail. That means seven members of Congress (including Senators) have been empowered to raise taxes when the Constitution requires that all revenue bills must originate in the House. This ties the hands of our Senators and Representatives (unless they just happen to be among the chosen 12) and removes them from the real work they were elected to do. Most of us will not be truly represented in this process and most members of both Houses will be shielded from any real accountability, because they can just blame it on the "Super Committee." I for one am in favor of putting a stop to this whole unconstitutional "Super Committee" and do not favor passing on any suggestion to them on how to conduct business. The Heritage Foundation should be working toward the abolishment of this monstrous legislative mess.

    4. JSNYC says:

      RE: Heritage's SAVING THE AM. DREAM – Q. Would you consider adding: 1) require VALID PROOF OF CITIZENSHIP and PHOTO/FINGERPRINT matching to register to vote, vote, and collect each and every entitlement (with the aid of simple blue bottle ink dunks), 2) choice by states to fund statewide Social Security with the aid of the GALVASTON TEXAS and CHILE S.A. 30-yr successful plans generating an average of 6.5% interest on annuities, 3) permission to choose private medical insurance plans across state lines and to purchase voucher coverage for annual check ups and hold-over emergency coverage for when you need it?

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