God, the idiots never shut up. Back they come — Alan Simpson and Erskine Bowles — with their self-appointed roles as public scolds, trying to sell the public the phony debt and deficit scam. And this time their new “plan” brings in less money which means more cuts.
Citizens of Tax Justice has the numbers:
Former White House chief of staff Erskine Bowles and former Senator Alan Simpson, co-chairs of President Obama’s ill-fated fiscal commission, have a new proposal for a “grand bargain” to reduce the budget deficit. Their newest idea is to raise less revenue than they suggested in their original proposal and rely more on cuts in public services and public investments. They have absolutely no policy rationale for this whatsoever, but state quite explicitly that they are proposing a new plan to adjust for the political positions of President Obama and House Speaker John Boehner.
None of this is to say that the original Bowles-Simpson plan was great policy. It would have (by some mechanism that was never entirely clear) capped revenue at 21 percent of GDP, even though government spending had reached 22 percent of GDP even back in the Reagan years.
Unfortunately, CTJ doesn’t underscore that the whole debate over the debt and deficit “crisis” is phony. There is no crisis. But, at least, we get the low down: the chattering classes who listen to these two bozos are happy to cut more and raise less.