Wednesday, May 25, 2011

Some thoughts on Budgets

TaxVox » Blog Archive » Six Think Tanks Tackle the Budget Deficit:
"Today, at the request of the Peterson Foundation, an ideologically diverse group of six think tanks proposed their long-term solutions to the federal deficit problem. Not surprisingly, they disagreed on most details. But the project reflected surprising consensus (though hardly unanimity) on a some big issues. Most important, four of the six aimed to hold federal spending two decades from now at around 23 percent or 24 percent of Gross Domestic Product. Similarly, four projected federal tax revenues at roughly the same level. This suggests a significant increase in taxes over today (and over the House-passed budget) and a big drop in deficits. "

The plans are in this document(pdf). I haven't had a chance to look through them yet but they should make for interesting reading.

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