I got excited this week when I heard about Congressman Ryan’s “Roadmap to Prosperity.” $6 Trillion in cuts! Finally, Congress might address entitlement spending, and eventually get the budget balanced. His plan even got the liberal journalists at the NY Times to acknowledge that the current system is unsustainable.
But Ryan’s plan doesn’t go far enough. Even if all of it passed, the budget wouldn’t be balanced for decades – not until 2040. Our debt wouldn’t be paid off until 2080.
So I’m glad the Republican Study Committee came out with a new budget plan today. The RSC represents 170 of the most conservative Congressmen. Their plan would balance the budget in just eight years, with reforms like these:
• Raise the Medicare eligibility age from 65 to 67, and Social Security from 67 to 70. It’s phased in gradually – two months are added every year – and those currently over age 60 are unaffected.
• Reduce the federal workforce by 15 percent, through attrition
• Sell five percent of federal lands and assets
• End extended unemployment benefits
• Reduce farm subsidies by $6 billion a year
• Eliminate the presidential election campaign fund
• Repeal Obamacare
Three cheers for all of that. Or maybe just two. Because even the stronger RSC plan doesn’t cut Obama’s plans for military spending.
Senator Rand Paul has a budget plan that would cut that and more. Tonight at 10pm, we’ll hear from him what his budget would look like.