http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html?choices=hvtk503b29% tax increases
71% spending cuts
*eliminate earmarks and farm subsidies
*civilian pay freeze, reduced federal workforce and contractors
*other cuts to federal government
*reduce nuclear arsenal, military size, and weapons programs
*reduce troops in Iraq and Afghanistan
*medical malpractice reform
*cap medicare growth
*social security means testing
*COLA
*millionaire tax
*Bowles-Simpson tax reform
*reduce mortgage deduction
*carbon tax
-reduce employer health coverage tax break but would change this to an individual tax break, so I didn't include it.
-surplus ($105 b in 2015/$166 b in 2030) would be used for payroll tax reduction, so ultimately the proportion for tax increases would be closer to 20%.
caveat: I have to wonder if some of these options double count things, and of course this is a historical exercise to some degree at this point.
I have to wonder some of the options people are choosing that would frontload the savings to make $300 billion or so surpluses now. That money will end up being spent by future congresses long before you need it for the long term entitlement problems if you do it that way. Plus it's very unKeynesian and/or un-supply side if you care about that sort of thing.
