Op-Ed: Stop Whining About Bowles-Simpson. Let's Make It Better
CNN Money | November 15, 2010
Commentary: Maya MacGuineas is the director of the fiscal policy program at the New America Foundation.
The draft plan released last week by the co-chairmen of President Obama's fiscal commission started an important conversation.
The plan would cut defense and domestic discretionary spending, end most tax breaks while lowering rates and reduce health care spending. It would make Social Security solvent by raising the retirement age, lowering benefits on the upper end and raising taxes. It would also increase the gas tax.
Congress and the president will have to come up with something both sides can agree on. There are certainly changes that could help make a budget plan more amenable to the left and the right. But the opening bid by Bowles and Simpson is an awfully good start. Let the negotiations begin