A Serious Budget
By Arnold Kling
I’ll bet Ken at ChicagoBoyz had fun putting this together:
As one who thinks that taxes are plenty high enough, on the rich as well as on everyone else, and that budgetary problems should be solved by budget cutting, it’s time to go to work.
Here’s my first cut, which actually yields a $347.47 billion surplus:
I’m leaving out some “Hold even” line items in this table.
Also, on Social Security and Medicare generally, I’d like to see real-dollar benefits remain constant indefinitely, but that’s not supported by the script, so I’m not going to fool with it except to take the opportunity to undo Bush’s upcoming expansion of Medicare, which seems increasingly unpopular on both sides of the aisle.
But it’s the specifics where the fun begins. Read the whole post.