Tuesday, November 30, 2010

A Plan To Cut Spending And Balance The Budget By 2020

"Policymakers should implement an emergency plan of cuts to defense, domestic, and entitlement programs. This essay proposes spending cuts of $1 trillion annually by 2020, which would balance the budget without resorting to damaging tax increases"

Department of Health and Human Services
Block grant Medicaid and freeze spending* 190.0
Repeal 2010 health care law* 87.0
Increase Medicare premiums* 57.0
Cut state and local grants by 50% 40.1
Cut Medicare payment error rate by 50% 24.4
Increase Medicare deductibles* 13.0
Tort reform 10.0
Total cuts 421.5

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