The people’s budget

From my buddy Dave Johnson over at Campaign for America’s Future:

You can’t open a newspaper or turn on a radio or TV without being told that the world is going to end because of the deficit. The deficit was caused by tax cuts for the rich, huge military spending increases, two wars and the costs of our health care system. So of course all the solutions we hear about involve gutting the things We, the People (government) do for each other and our economy, not touching the military budget and even more tax cuts for the rich.

Bet you didn’t know about The People’s Budget. I wrote about it the other day, but you sure won’t hear about it in your local newspaper, or on the radio (except a few stations) or on TV, except maybe on one or two of the MSNBC shows.

Why is there so little attention being paid to this plan, in the middle of all this huffing and puffing about the deficit? This plan fixes the deficit by addressing the causes of the deficit.

The People’s Budget is a budget plan from the Progressive Caucus of our Congress. Click here for a summary.

From their website:

The CPC proposal:

• Eliminates the deficits and creates a surplus by 2021
• Puts America back to work with a “Make it in America” jobs program
• Protects the social safety net
• Ends the wars in Afghanistan and Iraq
• Is FAIR (Fixing America’s Inequality Responsibly)

What the proposal accomplishes:

• Primary budget balance by 2014.
• Budget surplus by 2021.
• Reduces public debt as a share of GDP to 64.1% by 2021, down 16.5 percentage points…
• Reduces deficits by $5.6 trillion over 2012-21…
• Outlays equal to 22.2% of GDP and revenue equal 22.3% of GDP by 2021.

You can read the details in this PDF document.

The Economic Policy Institute has prepared an analysis that you can read here.