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Old 11-19-2012, 02:29 PM   #12
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Quote:
Originally Posted by RINGLEADER View Post
Well, the fact is that even these "grand bargains" don't do anything meaningful. Cutting $4 trillion from a budget due to bloat by another $10 trillion doesn't do much to really solve the problem. The spending reforms have to go farther because the tax increases could never fill the void.
Since the main spending problem by far is on Medicare and Social Security, structural reforms to these programs are a pretty effective way of reducing long run spending and dont rely on budgetary gimmicks like caps. They also tend to work out, for instance the Reagan increase in the SS eligibility age has slowly but surely taken effect with little complaint. The discretionary component of our budget has been fairly stable over the past decades, as well.
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