By Pete Domenici and Alice Rivlin
The New York Times
Nov. 16, 2012
As co-chairs of the Bipartisan Policy Center’s Debt Reduction Task Force, we suspect that we fall into the category of those whom Paul Krugman considers “deficit scolds” (“Hawks and Hypocrites,” column, Nov. 12).
Our recommendations are threefold:
- Economic growth must precede full-scale debt restraint.
- Congress should take action now to pass legislation phasing in tax reform that yields new revenues and restructuring entitlements to curb the continued growth of federal spending, particularly for health care.
- We cannot resort to such ham-handed mechanisms as the approaching sequester cuts, large across-the-board tax increases and other elements of the “fiscal cliff.”
Read the full letter to the editor here
Economic Policy Project
