At a time when President Obama and lawmakers of both parties are struggling to find spending cuts of $2 trillion to $4 trillion, Sen. Tom Coburn, R-Okla., is offering his colleagues a menu of options for far more ambitious savings.
Coburn is unveiling a plan to reduce deficit spending by a whopping $9 trillion, shrink government by some 20 percent and balance the budget, all within 10 years.
"It's specific, it's detailed, it makes hard choices," Coburn said. "And it's rough, but it's necessary."
Coburn questioned all the agonizing over the search for much smaller savings of some $2 trillion, saying, "$2 trillion doesn't even pay our interest over the next 10 years. That's with no increase ininterest rates."
2 comments:
Whether you are a republican or a democrat our representitives need to get something passed that won't come back to haunt us in a few months or another year.
Obviously tough cuts must be made to balance our budget, nobody wants tax hikes, however to avoid this quagmire it may take some of both.
'Tis better to lose a toe or a foot now than to lose the whole leg later.
This is the first plan on the table with any real impact on our federal spending problem. We're running 1.6+ trillion in deficit spending this year, so any cut of 2-4 trillion is laughable. I applaud Coburn for willing to walk out on that "political" branch. It shows he's more concerned with Americas' future, than his own political future. Very rare to see these days.
Post a Comment