NY Times budget deficit graphic illustrates the scope of the problem

Print Friendly, PDF & Email

Yesterday’s NY Times Week in Review included a compelling graphic comparison of the federal budget deficit and options to fill it. The page long piece uses blocks to illustrate the size of the hole and how much or how little each option contributes to the solution. The options include spending cuts and revenue enhancements (taxes); many are health-related. It is interesting to see how much difference each option makes. For example, eliminating farm subsidies (often linked to rising obesity levels) saves a pittance. But capping Medicare growth at GDP rates + 1% starting in 2013 makes the most difference among all the options, spending cuts or tax hikes, saving $560 billion by 2030 and filling 41% of the budget hole. That is more than allowing all the Bush tax cuts to expire on everyone or reducing the tax break for employer-sponsored health insurance.
Someone should do this for CT’s budget hole.
Ellen Andrews