Schakowsky (D-IL) Offers Alternative to Simpson-Bowles Deficit Reduction Plan

[coti]

Source: OpEd News

WASHINGTON, DC (November 16, 2010) – Today Rep. Jan Schakowsky (D-IL), a member of the bipartisan National Commission on Fiscal Responsibility and Reform, offered a comprehensive proposal to reduce the federal deficit without making middle class Americans foot the bill. Schakowsky's plan is an alternative to the Bowles-Simpson plan and would reduce the deficit by $441 billion in 2015, surpassing President Obama’s $250 billion target. Critically, the Schakowsky plan accomplishes deficit reduction without making cuts to essential federal expenditures that benefit the middle class. In unveiling her proposal, Schakowsky made the following statement:

“The President’s Fiscal Commission has been given a concrete goal: to achieve primary budget balance in 2015, ensuring that all spending is paid for except for interest on the national debt. Last week, co-chairs Erskine Bowles and Alan Simpson laid out their plan, which they presented to the Commission and to the public. Their proposal would have serious consequences for lower and middle class Americans, and that is why I cannot support it.

“I am releasing my own plan today because I believe that there is a better way to achieve our goal – one that protects the poor and the middle-class.

“Lower and middle class Americans did not cause the deficit."




Read more: http://www.opednews.com/populum/linkframe.php?linkid=122070

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(much more- see the link for her five-point proposal)

[mzmolly]

1. Fabulous!

:toast:

[Buzz cook]

2. I am leary of plans to "cut" the budget.

Schakowsky's plan uses the phrase, but the aim seems to be to grow revenue by investing in America. From what I read most of the cuts would be in military spending. Nothing wrong with that, but I'd still like to see a greater emphasis on investment.
In fact even though I am mostly a deficit hawk, in times of recession it is much more important to stimulate the economy than to reduce the deficit.

While anything is better than the cat food commission's rape the workers plan.

[molly77]

4. Ever seen the pie that cuts up US spending?

Military is over half of it. So why not go after the part that is using up the most money? Over 2 trillion lost in the DOD before 9/11. Did anybody ever look for that? Or the billions that disappeared in Iraq? All the money to rebuild infrastructure after shock and awe ... where did that go? Iraq used to be called the beacon of the middle east. Now it is a wasteland.That is where our tax dollars are going. That is the place that actual destruction is happening from US taxes. That is where the cut needs to be.

[bossy22]

10. that pie chart is misleading

since the U.S. is a very decentralized funding country in which much is funded from state and local gvt not from the the fed gvt. A better chart to use is % of GDP, because according to the pie chart, the U.S. spends 5 times more money on defense than in education when in reality the u.s. spends double the amount on education than it does on defense- the reason this is is because our education system is state funded rather than federal funded so the cost of education in this country will not fully show up in the federal budget

[fascisthunter]

3. Tax the rich! They have all the fucking money

you bastards

[mvd]

15. Yes, the wealthy class just wants to take..

even more of the money in America. K&R because there ARE good alternatives out there.

[valerief]

5. Bravo! Of course, her plan is only in our dreams, although it's the most just and practical.

I love this para in the link:

“Social Security has nothing to do with the deficit. Addressing the Social Security issue as part of the deficit question is like attacking Iraq to retaliate for the 9/11 attacks – there is simply no relationship between the two and attempting to conflate them does a grave disservice to America’s seniors.

[lark]

9. That's the entire point for Bowles & Simpson

Rip off the working class to cover up the transfer of our money to the rich, like themselves.

[thereismore]

6. If it's the better way to achieve the goal, you can count on it to be vilified and ultimately

abandoned, whatever is in it.

[billlll]

7. bernie sanders VT. has a good plan

we’ve got to do away with the enormous tax breaks and loop-holes that have been given to millionaires and billionaires and take a hard look at the excessive amount of money we spend on the military.

Fm his site
Subhead "responsible debt reduction"

[nyy1998]

8. Wow, I love her plan, but there's zilch chance it'll get through Congress

[bossy22]

11. i take issue with her reasoning on defense spending

you want to talk about cutting defense spending- fine, atleast use logic and have a serious adult conversation about it. YES- there are weapon systems that we have that we don't need but there are also weapon systems that we need but don't have. For example, we probably don't need a 1 million man army with 10,000 tanks since i doubt canada or mexico is going to invade us, but we do have coasts on 2 of the world's largest oceans so we need a huge navy to be able to maintain the most autonomy possible.

The issue is you have to define a strategy first before you cut- else the cut will be taken equally and you will end up with a force that is overally weaker- it can do everything but can't do anything effectively. in a strategic debate we might come to the conclusion (we probably will) that one of the branches may play a greater role in national security than the other and is therefore deserving of a bigger slice of the pie.

[eridani]

12. Good suggestions, but what about a financial transaction tax?

Obama mentioned it during his campaign, after all.

[mopinko]

16. this would only work if it was world wide

the financial markets are almost completely electronic now. tiny fractions of a penny will make traders use european and asian markets.

[RUMMYisFROSTED]

13. Raise the TMTR until the budget is in the black.

Problem solved.

Elapsed time: 4 seconds

[OlympicBrian]

14. Finally, a sensible plan! nt

[yurbud]

17. Don't you mean ''Simpson's Bowels' Deficit Plan''?

Because he pulled it out of his ass and it's a piece of shit?

[OlympicBrian]

18. kick - this proposal rocks

[OlympicBrian]

19. K&R

[OlympicBrian]

20. K&R