The 'GOP Path to Prosperity:' first reaction.

Three things immediately leap out at me regarding this first look at the GOP’s long-term budget proposal:

  • As Hot Air put it, everything’s apparently on the table.  Everything.  6.2 trillion cut in spending over the next ten years*; 4.4 trillion cut from the deficit. Medicare/Medicaid/Social Security reform. An implicit promise of an end to ethanol subsidies.  Defense cuts.  Ending the bailout mindset.  Top tax rates reduced, coupled with wholesale simplification of the tax code.  A reduction of spending to 20% of GDP.  In other words, pretty much every third rail of American politics that exists.
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The other two points are related, and they have to do with how likely it is that the Democrats will go along with this deal.

  • Given that this represents probably a one-time-only and completely undeserved chance for the Democrats to escape the sole-responsibility-for-the-economic-meltdown trap that they have dug for themselves, a hypothetical President Hillary Clinton – heck, a hypothetical President John Kerry – would have been smart enough and experienced enough to accept this deal essentially as-is.
  • The actual President Barack Obama is neither.

Moe Lane

*Let’s get this out of the way, right now.  The minimum time period for any sort of meaningful entitlement reform will be ten years, for a very simple reason: 55-65 year old people vote; and telling, say, a 59 year old that he now has only six years to rewrite his entire retirement strategy is roughly equivalent to telling a pilot on final approach that, oh, by the way, the runway is now on fire.  The 59 year old will not be happy, in other words.  True, neither will, say, a 51 year old, but he’ll have eight more years to work out something else.

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Hey, I’m telling you what is.  What should be is another issue, and it’s not getting a vote.  Deal with it.

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