President Obama’s deficit reduction plan

Can’t get much more concise than Brad DeLong:

  • Restore high-bracket tax rates to Clinton-era levels: $1T
  • Cut tax-expenditure spending through the tax code: $1T
  • Cut health care spending: $0.5T
  • Cut other mandatory spending by: $0.4T
  • Cut security spending: $0.4T
  • Cut non-security discretionary spending: $0.8T
  • Those reductions will carry with them a reduction in net interest of: $1.2T

That adds up to $5.3 trillion over twelve years. I’m sure more details will be forthcoming.

 

Aaron Carroll

Aaron E. Carroll, MD, MS is co-Editor-in-Chief of The Incidental Economist and tweets at @aaronecarroll. He is the Chief Health Officer at Indiana University. He is also a Distinguished Professor of Pediatrics and Associate Dean for Research Mentoring at the Indiana University School of Medicine. In addition to contributing regularly to The New York Times and the Atlantic, he is the author of four books, most recently The Bad Food Bible.

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Aaron Carroll

Aaron E. Carroll, MD, MS is co-Editor-in-Chief of The Incidental Economist and tweets at @aaronecarroll. He is the Chief Health Officer at Indiana University. He is also a Distinguished Professor of Pediatrics and Associate Dean for Research Mentoring at the Indiana University School of Medicine. In addition to contributing regularly to The New York Times and the Atlantic, he is the author of four books, most recently The Bad Food Bible.

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