Preparing for the 2012 CR: 10 Ways to further reduce the deficit

While Congress takes it summer break, conservatives need to brainstorm and come to some agreement about what will be demanded in return for a 2012 CR.  When Congress returns in September, there will be 4 short weeks before the current budget expires, with no hope that the Senate will pass a 2012 budget.  Republicans need to exact a price for passing legislation that will keep the government open after the Sept. 30 deadline.  It will be difficult to demand additional spending cuts in the 2012 budget because of the recent deal that still has to be resolved by the super-committee.  So here are some other ideas:

1.  Tie spending to GDP as in the Ryan budget;

2.  Insist on the Connie Mack “1%” plan;

3.  Include corporate tax reform:  reducing the rate to 15% and eliminating loopholes;

4.  Insist on personal income tax reform: creating 2 rates (10% & 25%) and eliminating all credits and exemptions except for children, mortgage interest and charitable contributions.  Eliminate the AMT and the death tax.

5.  Reform Medicare and Social Security:  Increasing age and means testing.

6.  Reform Medicaid as in the Ryan Budget.

7.  Approve Regulatory Reform:  Require new regulations to receive Congressional approval–since they have the force of law.

8.  Eliminate duplicative programs as per the CBO report.

9.  Adopt savings from the Bowles-Simpson report.