What do you think about these recommendations and how they compare to what we're hearing from the Catfood commission?
How To Balance the Budget By Reducing Spending
We propose to balance the budget by the end of the decade by reducing federal spending to a level consistent with the amount of federal taxes that Americans have paid for over 30 years, about 19 percent of GDP. We propose a five-step approach to balance the budget, based on the criteria summarized at the beginning of this analysis:
- Reduce the level of the defense budget in response to the end of the Cold War.
- Reduce the rate of increase of real Social Security benefits for future retirees.
- Sequester 4 percent of the outlays for all other domestic programs in the second half of FY93 and freeze the level of total real outlays for those programs from FY94 through FY98.
- Reduce the rate of increase in medical programs consistent with the sequester and freeze.
- Reduce the level of outlays for other domestic programs consistent with the sequester and freeze.
Yeah so the years mentioned in the proposal are different but, essentially, it's the same as what we're being told is a brilliant NEW solution for our fiscal woes.
Which brilliant, esteemed, bipartisan body made this proposal you ask?
Why it was the Koch Brothers' funded Cato Institute! We might as well call the Catfood Commission the Catofood Commission.
Read it in its entirety for yourself: How To Balance the Budget By Reducing Spending