Economics, Taxes and Spending

Romney could endorse that tax plan, just not the logic of the spending changes

Jimmy P., good point re: Romney and the Simpson-Bowles tax plan. But I’m not sure he could or should embrace the S-B treatment of defense spending. S-B takes a truly reckless approach to cuts in discretionary spending by cutting security and non-security discretionary spending equally. This might be simple but its also brainless. A good case could be made to cut future entitlement spending even more than S-B suggests and increase discretionary spending; not just for defense but for other programs, too, including some Democrats would like to increase. Interestingly, the Democrats at Third Way put out a recent paper about the need for Democrats to back entitlement reform because entitlements are crowding out discretionary spending possibilities.

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