Thursday, September 24, 2015

So, what’s it going to be: spending cuts in popular programs, higher taxes, or deficits forever?

Kevin Williamson writes at National Review,
Here’s my question, which nobody ever really asks: “Given that a small number of federal expenditures — Social Security, Medicare, Medicaid, national security, and interest on the debt — typically constitute about 80 percent of all federal spending, and given that we are not going to cut non-defense discretionary spending to zero, there is no mathematically plausible way to balance the budget without: 1) cutting spending on Social Security, Medicare, Medicaid, and/or national security; and/or 2) raising taxes. So, what’s it going to be: spending cuts in popular programs, higher taxes, or deficits forever? And before you give your answer, I’d like you all to know that standing behind each of you is a man with a Taser and instructions to use it on the first person whose answer relies on the Growth Fairy — lookin’ at you, Jeb — or the Waste, Fraud, and Abuse Fairy. Go.”

...I don’t expect the GOP contenders to campaign on pain, but I do expect them to sail close enough to the shores of reality that dry land is always within sight. Instead, the temptation is to proceed as though we can have massively expanded military spending, tax cuts, no unpopular entitlement reductions, and a balanced budget.
Read more here.

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