On the recordAugust 2, 2010
The key difficulty facing the Congress now, I think, is to legislate or in other ways lock in future deficit reduction.
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Judd Gregg
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congress.govThe key difficulty facing the Congress now, I think, is to legislate or in other ways lock in future deficit reduction.
Gregg highlights the challenge of committing to future deficit reduction.
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Design the programs. Decide how large the government is going to be. Do a tax reform to finance it.
I think Dr. Rivlin is absolutely correct on both points, and Simpson-Bowles did the same thing that Domenici-Rivlin did, which was to actually increase benefits to single women over 85, and low-income individuals.
We cannot continue to let health care costs rise faster than our National income.
I think the appropriate way to approach this is to set the size of the government as a percent of GDP.