Secure America's Future Economy (SAFE) Advocating smaller, more focused, less costly government since 1996
Dear Senator Coons:
Thanks for your response to our 8/5/19 note about the recently passed Bipartisan Budget Act of 2019, including acknowledgment of the need to seek ways “to limit the growth of spending” as well as “ways to bring in more revenue.”
SAFE tends to place more reliance on spending discipline than on tax increases, for two reasons: (1) Shifting funds from the private sector to government slows economic growth by reducing the funds available for productive investments. (2) All too often, proponents of tax increases succeed in earmarking the proceeds for new spending programs rather than deficit reduction. We recognize, however, that it would be very difficult to eliminate the deficit without some bipartisan give and take.
To this end, would you agree that the candidates in the 2020 presidential election should be encouraged to propose and defend their respective plans for balancing the budget in four years (e.g., by 2025)? One of the presidential debates in the fall of 2020 could be devoted to having the two finalists debate the merits of their respective plans, which would probably result in a more informative debate than the scattershot debate questions that are generally asked. Top 2020 issue should be national debt, William Whipple III, News Journal, 5/28/19.
Also, we’d appreciate your reactions (in general, not item by item) to the $1 trillion per year list of deficit cuts (including $86B/year in revenue enhancement) that was recently posted on SAFE’s website, 8/19/19.
Thanks again for your interest in the fiscal problem – which may have disastrous consequences unless decisive action is taken soon.