Boskin: Appoint Government Commission to Propose Spending Cuts

Tuesday, 15 Oct 2013 08:01 AM

By Dan Weil

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A government commission should be formed to figure out ways to cut spending, says Stanford University economist Michael Boskin.

"Appoint a commission to propose by, say, next May 15 specific reforms to reduce and eliminate waste, inefficiency and fraud in government programs — with a minimum target of $1 trillion in the next decade," he writes in The Wall Street Journal.

"The commission must consist of highly respected, high-ranking officials from both parties — the likes of Paul Volcker . . . and James Baker, who have no recent policy to defend."

Editor’s Note:
Obama Donor Banned This Message (Shocking)

For every $2 of savings created by reducing waste and inefficiency, Congress could push up the sequester spending caps by $1, notes Boskin, chairman of President George H.W. Bush's Council of Economic Advisors.

"Why agree to such a plan?" he asks.

"Democrats would get relief from the sequester on such programs as education and public housing. Republicans would get less spending and debt, as well as sequester relief for defense. Citizens would get a more efficient government costing less."

Savings can be found in numerous ways, such as consolidating and reforming duplicate programs that aren't meeting their goals, Boskin says.

Edward Conard, a visiting scholar at the American Enterprise Institute, says Republicans can't be faulted for their hardline approach to the budget/debt ceiling.

"With federal expenditures running 30 percent higher than revenues, debt at nearly twice the historical average, and no significant improvement in sight, is it any wonder that a contingent of conservative legislators is willing to ignore political expediency and stand on principle instead?" he writes in an article for Politico.

Editor’s Note: Obama Donor Banned This Message (Shocking)

Related Stories:

Bipartisan Commission Proposes $2.4 Trillion Deficit Reduction

Bowles to Moneynews: Bipartisan Cooperation Necessary to Solve Budget Mess

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