Officials with the conservative National Taxpayers Union Foundation (NTUF) and liberal U.S. Public Interest Research Group Foundation (USPIRGF) rarely see eye-to-eye, but that didnt keep them from jointly recommending almost $800 billion in federal spending cuts.
Their timing couldnt be better, thanks to the CCP Virus—also known as the novel coronavirus—and the unprecedented economic recovery spending it prompted.
Nobody knows now for sure exactly how big the federal deficit will be after the pandemic is past, but the figure could easily be somewhere beyond $4 trillion. Politicians in both parties could soon be forced to make tough decisions they have avoided for years.
Issued April 23 to little media notice, the report — “Toward Common Ground: Bridging the Political Divide with Deficit Reduction Recommendations for Congress” — points to four major areas where spending can be cut dramatically without compromising the federal governments essential operations:
- $62 billion in savings from ending wasteful subsidies.
- $422 billion from addressing outdated or ineffective military programs.
- $143 billion from improving program execution and government operations.
- $170 billion from reforming the operation of entitlement programs.
The recommended cuts range from relatively small like eliminating $4 million worth of perks provided to former presidents to much bigger savings like the $680 million from closing the U.S. Trade and Development Agency.
Some of the recommendations are certain to run into significant opposition from the Department of Defense (DOD) such as retiring the B-1 strategic bombers and stopping acquisition of F-35 fighters at the 425 already authorized.
But the two foundations hope their joint action — the current edition is their fourth such report — will spur bipartisan action in Congress on the federal deficit and the national debt.
“Our organizations may differ about what constitutes a proper regulatory and tax system, but we are united in the belief that the federal government spends in ways that are not fiscally sustainable and are often detrimental to the interests of the American people,” they said in a joint statement.
“For NTUF, out-of-control entitlement spending, fueled by demographic changes, is a particular concern. For U.S. PIRG, of particular concern is spending that threatens public health, causes environmental damage or wastes taxpayer dollars through corruption or inefficiency.
“Within this project, we mutually identify areas of wasteful, cronyistic, and excessive spending that plague our federal budget. We hope that these bipartisan spending cuts and reforms will (1) provide Congress with a number of examples of spending reductions that can at least marginally help rein in federal spending, and (2) show that there are areas of agreement that bridge ideological divides if only we seek them out.”
Other advocacy groups concerned about wasteful federal spending lauded NTUF and USPIRGF.
Citizens Against Government Waste (CAGW) President Tom Schatz told The Epoch Times Monday that his group “welcomes every effort to eliminate wasteful spending to help reduce the record deficits and debt being caused by the unprecedented response to the coronavirus.
“Many of the 50 joint NTU/USPIRG proposals to cut $800 billion over 10 yearRead More From Source