Those of us who have been warning about the consequences of the excessive budget cuts being forced on the U.S. Armed Forces often hear that such cuts are politically unavoidable–that there is simply no willingness in Washington to either raise taxes or cut entitlement spending. Well at least one major political figure is willing to go where others fear to tread. Rep. Paul Ryan, chairman of the House Budget Committee, has just unveiled a budget blueprint that does the seemingly impossible–it balances the budget within 10 years without tax cuts and while restoring roughly $500 billion in defense cuts that will be forced upon the Pentagon if sequestration remains in effect.
The Washington Post summarizes his plan with a somewhat snarky spin: “Overall, Ryan would cut about $5.1 trillion from projected spending over the next decade, with nearly $3 trillion coming from repealing the health-care law and revamping Medicaid. Still, his proposals fall short of balancing the budget, forcing him to resort to a vague promise of new revenue from ‘economic growth’ to meet his goal of wiping out deficits by 2024.”
Actually it’s a good bet that the kind of budget-cutting, tax-simplifying blueprint Ryan proposes would, if adopted, accelerate economic growth, which is currently anemic. But even if it doesn’t, that’s not a big deal. There’s nothing wrong with running a reasonable budget deficit–just as families go into debt to buy a house, so the government can go into debt to achieve public objectives. The problem today is that the deficit is excessive. Ryan would bring it under control and do so without sacrificing defense spending.
Will his plan be adopted anytime soon? Of course not–not with Democrats in control of the Senate and the White House. But it at least shows what’s possible and it puts Republicans in a good position for future elections. If the party rallies behind the Ryan budget they will of course be accused of wanting to kick grandma to the curb, but such partisan charges ring increasingly hollow. Republicans will be able to counter that they have a serious plan to curb runaway deficits while at the same time preserving our defenses–that, in fact, there is no contradiction between those two goals.