As the members of the bipartisan supercommittee ready their search for $1.5 trillion in deficit savings, one House Democrat is offering $2 trillion worth of suggestions. Illinois Rep. Mike Quigley on Thursday submitted a sweeping budget plan to the 12 newly appointed members of the Joint Select Committee on Deficit Reduction. Quigley said his blueprint -- which proposes 60 steps to reduce deficit spending by $2 trillion over the next decade -- would give the panel “a running start” as it prepares to craft an austerity package that’s due by Thanksgiving…. The proposal specifies $700 billion in defense cuts over the next 10 years, for instance, including troop reductions in Europe, Iraq, Afghanistan and other parts of Asia. Tweaking the entitlements, Quigley would empower the government to negotiate drug prices under Medicare’s prescription drug program, and hike the income level subject to the payroll tax that funds Social Security. On the tax-revenue side, Quigley proposes hundreds of billions of dollars in savings by cutting subsidies to oil companies and closing tax loopholes for companies doing business overseas. He would also eliminate tax credits currently enjoyed by owners of vacation homes.
If you follow the link, do take a moment to peruse the comments, nearly all of which seem to be premised on the notion that policy should always only be shaped by the needs of sociopaths and racists rather than those of marginal pressure groups like everyday citizens and people who work for a living. I mean, it really is rather amazing. I wonder what the managing editors of The Hill really think about the irresponsible hate-speech and distortions they are providing ventilation for.
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