The very conservative
Senator Tom Coburn has published a debt reduction package which absolutely
no one, even his most ardent supporters have paid the least attention to. Sen. Coburn would trim $9 Trillion from
federal spending and he
talked about it with Charlie Rose in Businessweek. Here is one highlight.
Sen. Coburn - Is Two Plus Two = Four? I keep Forgetting |
Discretionary spending’s too small. There isn’t that much to cut.
We have doubled the size of the federal government over the last 10 years in this country. And when people hear that, they can’t believe it. The biggest problems are entitlements. It’s $600 billion a year outside of the Pentagon. If you cut 20 percent, that’s $1.25 trillion.
We have doubled the size of the federal government over the last 10 years in this country. And when people hear that, they can’t believe it. The biggest problems are entitlements. It’s $600 billion a year outside of the Pentagon. If you cut 20 percent, that’s $1.25 trillion.
And here is another highlight.
Clearly, one of the things we need to do right now is train
workers.
We’re spending $19 billion a year now not doing that. Think about Medicare, one of our prime programs for our seniors. If you look at it in terms of improper payments and fraud, it’s $100 billion a year. So cut two-thirds of that and you saved a trillion dollars in Medicare before you even touch the program.
We’re spending $19 billion a year now not doing that. Think about Medicare, one of our prime programs for our seniors. If you look at it in terms of improper payments and fraud, it’s $100 billion a year. So cut two-thirds of that and you saved a trillion dollars in Medicare before you even touch the program.
Anybody notice
anything odd here? Cutting two thirds of $100
billion of Medicare waste per year for ten yeas is $667 billion, not a trillion. But Medicare waste is not just
lying there with a tag on it, it has to be identified and rooted out, something
that might cost, $ billions of dollars each year. And Republicans of course are dead set
against increasing federal spending, even if it is on waste reduction that
might pay for itself and then some. So when we all say Conservative numbers don't add up, well, that's because they don't.
Mr. Coburn concludes with
this observation.
I’m not afraid to say, “We have to have a means test on
Medicare.” The very wealthy are going to have to pay more of their share.
which might reduce the deficit from say $1.2 trillion to
$1.95 trillion. Nice going Senator.
Is the last line a joke or typo? The idea is that means testing would have a negligible effect on the deficit, right?
ReplyDeleteAlso, did you catch Coburn's conclusion that Europe is in trouble because its "austerity program started too late"? And then he says he agrees with Krugman. The whole interview is a nonsensical mess.
ReplyDelete