Sunday, 1 May 2011

The People's Budget

An interesting alternative to the Obama plan (which I do not think cuts enough) and the Republican plan (which I think cuts in all of the wrong places).

The budget proposed by the Progressive Congressional Caucus aims to balance the deficit by substantially reducing runaway military spending, and reinstating the estate tax, and higher tax brackets for the wealthy (as well as letting the Bush tax cuts expire.) It purports to be able to balance the budget by 2021, which is about 10 years before the Republican budget (a notoriously anti-progressive program that focuses on cuts from education, low-income services and welfare for the elderly). Of course, these are all claims, and politicians are notoriously bad at delivering on their promises---but this is a bold approach to balancing the books that should be acknowledged. At the very least, I hope this puts more pressure on the Pentagon to slash military spending.

Even the Economist, which usually leans to the right, hailed the Progressive Caucus on taking a fresh, bold approach to reducing the deficit.

One thing's for sure---we can no longer ignore the catastrophe that is slowly unfolding before us.

America needs to solve that problem---without resorting to this.
 Pictured: "The Path to Prosperity." 
Pictured: America after the "Path to Prosperity"

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