August 16, 2012
Last year, Fox Business anchor John Stossel invited representatives of five policy organizations onto his program to present their plans to fix the federal budget. The Heritage Foundation’s entry, Saving the American Dream, won the “battle of the budgets” for having the best overall plan.
In his new book, No, They Can’t, Stossel tells the story of the award:
Some of the liberal budget plans were ridiculous. They increased spending. The Heritage plan was the only one that actually balanced the budget: Heritage did that by raising the eligibility age for Social Security and Medicare to sixty-eight and phasing out benefits for people making over $110,000 a year.
My fiscally conservative studio audience voted for that plan. Stuart Butler, who coauthored the Heritage budget, actually seemed happy to take home the Emmy statue.
Earlier this year, Sen. Mike Lee (R-UT) introduced a federal budget based on Heritage’s Saving the American Dream proposal. Heritage will continue to work with lawmakers to explain the benefits of reining in federal spending and balancing the budget.
Do you think the election season will spark a debate over federal spending and the role of government?