June 8, 2004 | WebMemo on Federal Budget
In this PowerPoint presentation delivered at a joint Heritage
Foundation/Brookings Institution event on federal spending,
Heritage Foundation Vice President for Domestic and Economic Policy
Stuart Butler makes the case that the federal deficit isn't the
bogeyman that many claim it is. What should be worrying-and what
will be most damaging to future generations-is the state of federal
spending, which is projected to explode in coming years along with
The solution, therefore, isn't to push for a balanced budget immediately-necessitating tax hikes and, most likely, European-style economic lethargy-but to reign in the most damaging entitlement programs: Medicare, Medicaid, and Social Security. Without reform, these three programs will comprise more than 20 percent of the nation's economy in 2060, driving tax hikes and threatening economic growth far into the future.
View What Is the
Real Reason To Worry about the Deficit by Stuart M.
Butler, Ph.D. (requires Microsoft PowerPoint)