Fixing the Debt, Cutting Spending and Restoring Prosperity
May 20, 2011
The Heritage Foundation recently released its plan to fix the federal debt, cut spending and, above all, restore prosperity to the United States.
- It balances the nation's budget within a decade -- and keeps it balanced.
- It reduces the debt and cuts government in half.
- It eliminates government-mandated health care.
- It squarely confronts Social Security, Medicare and Medicaid, the three so-called entitlement programs, which together account for 43 percent of federal spending today.
Heritage's plan, while economic in nature, has a higher purpose. If entitlements are not reformed, the next generation and future ones will have to pay punitive tax rates.
Source: Stuart Butler, Alison Acosta Fraser and William Beach, "Saving the American Dream: The Heritage Plan to Fix the Debt, Cut Spending, and Restore Prosperity," Heritage Foundation, May 10, 2011.
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