It’s become popular for liberal commentators to argue that conservatives aren’t really serious about the deficit, but today liberal fiscal commission member Rep. Jan Schakowsky revealed her vision for deficit reduction, and its a doozy. Her proposal is mostly comprised of slashing military spending and hiking taxes, but also manages to expand government in other ways. She calls for a government-run health care plan (or public option), having the government “negotiate” drug prices, and for $200 billion in more economic stimulus spending. Her plan would hike capital gains taxes and payroll taxes in the midst of a severe economic downturn. And the plan does not address the long-term challenges facing Medicare financing. Read it for yourself here.
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