The much-respected Citizens Against Government Waste organization has put its stamp of approval on the new budget proposed by the Republican Study Committee last week.
As noted previously on HEO, the alternate FY 2007 budget titled the "Contract with America: Renewed" saves $650 and balances the budget in five years, compared to President Bush's plan to cut the deficit in half by 2009. It would also eliminate more than 150 programs and restrain the runaway growth of entitlement spending.
"The RSC blueprint is the best comprehensive plan on the table to rein in spending and cut government waste," said CAGW President Tom Schatz in a press release. "The rest of Congress needs to support this plan and get serious about addressing the nation's long-term budget problems."
Also in the CAGW press release:
Highlights of the plan include $31 billion in cuts to foreign aid over five years, capping Medicare’s growth at 5.4 percent annually, and budget process reforms. It also answers President Bush's call for a Sunset Commission, which would require all federal programs to expire after a specified period of time unless Congress voted to keep them going.
"Capping Medicare's growth would force Congress to examine the structural deficiencies in the health care system that lead to massive waste, rather than simply spend more money," Schatz said. "The list of program eliminations includes wasteful and unnecessary programs like the Advanced Technology Program, the African Elephant Conservation Program, and the Robert C. Byrd Scholarship Program."
According to the CAGW press release:
The RSC plan arrives as Congress prepares to increase the national debt limit beyond the current $8.184 trillion. The debt is already $8.28 trillion, which breaks down to $27,724 per citizen. Last week, the Senate Budget Committee approved a budget plan that rejected the President’s proposal to trim the growth of Medicare spending by $35.9 billion over five years. While Democrats blasted the plan for increasing the debt, most of the amendments offered by Democrats would have increased spending.
"The national debt is proof of Congress's addiction to overspending," Schatz said. "Gimmicks and posturing have come to dominate the budget debate. The RSC plan is the most honest attempt at fiscal responsibility on Capitol Hill."
