OPINION: Super Committee
Tuesday, November 8, 2011 at 9:24AMJust before Thanksgiving, the so-called Super Committee is supposed to give recommendations about the federal budget.
Most Democrats plus some Republicans are calling for more revenue, in a way that makes it clear they mean higher taxes.
Federal spending is already 24% of the U.S. economy; and 4/10ths of that is borrowed. More revenue would mean more spending—not less borrowing. And raising taxes on anybody will make the economy splutter even more, creating even fewer jobs.
The Super Committee needs instead to push lower spending, which means a curb on entitlements. Their assignment is to find $1.3-trillion in savings over ten years. Curiously enough, there’s one key action item that would save that very amount—stop Obamacare’s expansion of government-paid healthcare before it starts. Savings? $1.3-trillion. That ought to be a no-brainer even for Congress.
From The Heritage Foundation, I’m Ernest Istook.
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