“Budget debate is all heat and no light”

Don Taylor:

The current budget debate is all heat and no light. If we extend the current tax code to 2020, then even if we eradicate (read put to 0) all the domestic discretionary spending in the federal budget, we will have a deficit in 2020 just paying for health care (Medicare, Medicaid, ACA subsidies), Social Security, Defense and Interest on the debt. All the words being spilled about NPR and agricultural subsidies are a sideshow at best. The essence of this paragraph will not change even if the ACA is repealed.

He goes on to discuss the health reform ideas of Michael Cannon of the CATO Institute and then ends with a focus on the employer-sponsored health insurance tax subsidy. It’s worth a read.

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