A big swing and a miss with this effort by former Senators to balance the budget.
It's easy to make social security behave. However, a Congress that continues to spend social security receipts, rather than pay down debt with them, makes that harder and harder...
Rein in health care cost inflation - this could mean changing the model for health care and investing in cost savings programs. Cuts in defense may go a long way to meeting obligations under medical programs, for veterans and those of medicaid/medicare.
Pass cap-and-trade. Tax revenue from an undedicated gas tax is just an invitation to abuse from an undisciplined set of Congresscritters.
One time wealth transfers are a good way to avoid the theoretical difficulties of changing marginal income tax rates.
Friday, October 22, 2010
Swing and a miss
