E.D. Kain, formerly of League of Ordinary Gentlemen and Balloon Juice ombudsman, lays out how to balance the budget without gutting the social safety net. Here.
I'll give you the highlights: cut the defense budget back to Clinton era levels and return the tax rate to Clinton era levels. Basically, Clintonize the damn thing, because, you know, it worked the last time.
There are some other important points about the tax code and other issues.
But here's the thing: this is at least as "serious" a budget as Paul Ryan's. It does the same thing Ryan's budget does, but it does not involve plunging future generations of retirees (me!) into penury.
I would LOVE to see the Democrats put forward such a budget proposal. It would be just as "serious" and politically much more popular, if polls are to be believed.
Of course, neither are likely to become law so...
UPDATE: The CBO scores the Ryan plan and...... It doesn't reduce the deficit! It will however take a shiv to grandma and grandpa's retirement savings. Yay! Paul Ryan is very serious and courageous! Or ideological and cruel. One of those.
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