Cuts of $300 billion could balance budget

The Federal budget could be cut by $300,000,000,000 and brought into balance by 2009 while keeping Pres. George W. Bush's tax cuts in place, contends Chris Edwards, director of fiscal policy studies at the Cato Institute, Washington, D.C., who insists the Federal government is heading towards a financial crisis thanks to chronic overspending, large deficits, and the looming cost increases for Social Security and Medicare.

In "Downsizing the Federal Government," he details agency-by-agency spending cuts. As evidence that government has grown out of control, Edwards documents the recent string of scandals at Federal agencies from the Department of Energy to the Bureau of Indian Affairs. Government has grown so large, he indicates, that Congress cannot properly oversee the 2.3 trillion-dollar behemoth. There are over 100 low-priority programs and agencies that could be terminated.

"The good news is that Americans do not need such a big government," says Edwards. "Most Federal programs are unconstitutional, unnecessary, actively damaging, or properly the responsibility of state governments or the private sector."

One by one, Edwards argues in favor of privatization of air traffic control, Amtrak, NASA, and the Postal Service. He contends that business subsidies should be eliminated altogether. The Department of Education should be terminated. These recommendations are only a portion of his proposed changes. "Congress and the ... Administration need to pursue bold fiscal reforms," he maintains. "The Administration should propose cuts in defense, education, Medicare, and other programs rather than always push for increases.

"Leaders in Congress need to restrain the appropriators and oppose spending increases sought by the Administration. All policymakers need to end their selfish jostling to fund favored programs because the looming entitlement crisis will require that the entire budget be scoured for cuts."

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