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CAP's Plan for Budgeting for Growth and Prosperity

CAP's Plan for Budgeting for Growth and Prosperity

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A two-pager by Michael Ettlinger, Michael Linden, and Seth Hanlon gives the highlights of CAP's plan to reduce the deficit while growing a strong economy.
A two-pager by Michael Ettlinger, Michael Linden, and Seth Hanlon gives the highlights of CAP's plan to reduce the deficit while growing a strong economy.

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Published by: Center for American Progress on May 25, 2011
Copyright:Attribution Non-commercial

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05/25/2011

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1Center for American Progress | Budgeting for Growth and Prosperity
Budgeting for Growth and Prosperity
A Long-term Plan from the Center for American Progressto Balance the Budget, Grow the Economy, and Strengthenthe Middle Class
Michael Ettlinger, Michael Linden, and Seth Hanlon May 2011
 The highlights
• Achieves“primarybalance”by2015,withthefederalbudgetintheblackexceptforpaymentsonthenationaldebt•Hitsfullandpermanentbalanceby2030,andreducesthedebttojustover40percentofgrossdomesticproductby2035•Deliverstwo-thirdsofthedecitreductionfromspendingcuts,andone-thirdfromrevenueincreases•Istheonlylong-termplanforsustainedbalancedbudgetsthatinvestsinthemiddleclassratherthanaskingthemtobearthebruntofdecitreduction
Our plan makes room for crucial investments, protects middle-classservices, and fights poverty
•Makesroomforsubstantialnewinvestmentsinalllevelsofeducation,renewableandcleanenergytechnologies,transportationandinfrastructure,andbasicscienticresearchanddevelopmentevenwhilebalancingthebudget—investinganannualaverageofabout$70billionabovecurrentlevels•Includessubstantial,targetedbooststosuccessfulantipovertyprogramsthatcutthepovertyrateinhalfby2030
Our plan controls health care costs for everyone, not just those in thepublic programs
•Strengthensexistingcost-containmentmeasuresintheAordableCareAct•Fullypaysforapermanent“DocFix”forMedicare•Buildsinacost-containment“failsafe”toslowthegrowthofhealthcarecostsacrosstheentireeconomywhileensuringthequalityofcare

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