Legislation that would trigger new taxes and budget
cuts is being considering by a bipartisan group of
senators if Congress fails to meet a set of mandatory
spending targets and other fiscal goals aimed at
reducing the federal deficit.
Hopefully Congress will remain single minded and
act in the best interest of all Americans. Enhancements
to Obama's proposed budget are urgently needed. The
plan must be one of action with defined deliverables and
dates and a set course that will be reviewed periodically
over the years needed to completely bring the deficit
down from over $8 trillion to one in which America's
budget is at least in balance.
The plan must include the task of deficit reduction
and Congress should focus on these five parts:
1) a tax code overhaul;
2) discretionary spending cuts;
3) changes to Medicare, Medicaid and entitlements;
4) changes to Social Security, and,
5) incentives for job creation.
Sheila McKinney
