Budget Puzzle: You Fix the Budget
In a way, the administration is correct in that with so many different voices each having their own opinion on how to cut the US deficit, it is next to impossible to reach a consensus. Yet the time bomb is ticking: in 2015 the projected budget deficit will be $418 billion (and likely more). This number will grow to $1.345 trillion by 2030 (both from the CBO, and thus fatally flawed). So here is your chance to give budget balancing a try: the New York Times has launched an entertaining interactive feature that allows readers to attempt to plug the upcoming $1.3 trillion hole on their own, using cuts to domestic programs and foreign aid, the military, health care, social security, existing and new taxes.
Today, you’re in charge of the nation’s finances. Some of your options have more short-term savings and some have more long-term savings. When you have closed the budget gaps for both 2015 and 2030, you are done. Make your own plan, then share it online.
