How to Cut $100 Billion without Really Crying
January 12, 2011
Government spending has surged so much in the past two years that cutting $100 billion is a piece of cake, says Kevin A. Hassett, a senior fellow and director of economic policy studies at the American Enterprise Institute.
Here is where to start:
- First, it is finally time to take on farm subsidies, which topped $15.4 billion in 2009, according to the Washington-based Environmental Working Group.
- Next, target energy subsidies, which might make us feel good but make little economic sense.
- It's high time to strike a blow for federalism: local law enforcement is, by definition, a local concern --that is $7.3 billion in savings.
- Brian Riedl of the Heritage Foundation counts $22.5 billion in savings from cutting taxpayer-funded travel by federal employees and from cutting in half the cost of maintaining vacant federal properties.
Source: Kevin A. Hassett, "How to Cut $100 Billion without Really Crying," BusinessWeek, January 10, 2010.
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