Saturday, November 06, 2010

How would the Heritage Foundation cut the U.S. budget?


The conflict.  On the one hand, our budget deficit is spiraling out of control.  On the other hand, we need to spend more to keep our economy from shrinking again.  We're damned if we do and damned if we don't.  I foresee the U.S.G. headed towards a milder version of Britain's massive public spending cuts.

Every cut is going to tick off some constituency.  With Republicans in control of the House, it is safe to say that the Pentagon budget is safe.  So who will lose?  The link below is to the conservative Heritage Foundation's hyper-aggressive proposal.  It makes for some interesting reading.  Comments from policy wonks are encouraged.  Some notes:
  • If it weren't for 9/11, we would not have spent so much money (easily over a trillion) on Iraq, Afghanistan, health care and disability benefits for wounded veterans, and homeland security.  OBL did a real number on us nine years ago.
  • Other than corn belt voters, is there anyone else in this country (or the world) that thinks farm subsidies are a good idea?
  • Cutting community development and job training programs will just mean spending more later on prisons, hospitals, and welfare benefits.
  • Government backed student loan programs should be under more scrutiny.  Institutions of higher learning are jacking up tuition faster than Veyrons on steroids.  A lot of these degree programs/mills have dubious value in the job market and are essentially rip-offs.
  • Repealing "Obamacare", according to the proposal, will only save $5B.
  • Eliminating Title X Family Planning ($327M)-- Is that a good idea?
  • It cost $133M to operate the National Endowment for the Arts.  How much aid money are we giving to Egypt and Israel?
Link here.

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