Gang of Six Plan: Spending Cuts or Wish List?

By:  Jack Kenny
07/21/2011
       
Gang of Six Plan: Spending Cuts or Wish List?

The bi-partisan "Gang of Six" plan, billed as a $3.7 trillion deficit-reduction package, might better be described as a bi-partisan wish list. Rather than call for reductions in or elimination of any programs or departments of a federal government now $14.3 trillion in debt, the plan contains a long list of savings over the next ten years to be "found" by various committees of Congress. The plan begins by proposing enactment of a "a $500 billion down payment that would secure immediate debt relief…” Since our government is currently running in deficit at the rate $1.3 trillion a year, this amounts to borrowing another half a trillion dollars for a "down payment" on the debt we've already accumulated.

The committees would be seeking "real deficit savings in entitlement programs," including the following list:

The bi-partisan "Gang of Six" plan, billed as a $3.7 trillion deficit-reduction package, might better be described as a bi-partisan wish list. Rather than call for reductions in or elimination of any programs or departments of a federal government now $14.3 trillion in debt, the plan contains a long list of savings over the next ten years to be "found" by various committees of Congress. The plan begins by proposing enactment of a "a $500 billion down payment that would secure immediate debt relief…” Since our government is currently running in deficit at the rate $1.3 trillion a year, this amounts to borrowing another half a trillion dollars for a "down payment" on the debt we've already accumulated.

The committees would be seeking "real deficit savings in entitlement programs," including the following list:

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Jack Kenny (photo)

 

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