Tag: Kevin Brady

Thursday Links

  • DON’T FORGET: Our fiscal policy conference, “The Economic Impact of Government Spending,” featuring Senators Bob Corker (R-Tenn.) and Mike Lee (R-Utah), former Senator Phil Gramm (R-Tex.), Representative Kevin Brady (R-Tex.), and other distinguished guests, begins at 2:00 p.m. Eastern today. Please join us on the web–you can watch the conference LIVE here.
  • Atlas Shrugged Motors presents the Chevy Volt.
  • The parable of the Good Samaritan teaches us about the moral value of voluntary charity toward the needy–it says nothing about using coercive government programs of the modern welfare state.
  • It is not the role of the Court to rewrite laws for Congress.
  • The failed “war on drugs” has reshaped our budgets, politics, laws, and society–and for what?

Wednesday Links

  • Please join us on Thursday, April 7 at 2:00 p.m. ET for “The Economic Impact of Government Spending,” featuring Sen. Bob Corker (R-TN), Sen. Mike Lee (R-UT), Rep. Kevin Brady (R-TX), former Sen. Phil Gramm, former IMF director of fiscal affairs department Vito Tanzi, and Ohio University economist and AEI adjunct scholar Richard Vedder. We encourage you to attend in person, but if you cannot, you can tune in online at our new live events hub.
  • The last time we saw a green energy economy was in the 13th century.
  • This isn’t quite what we meant by “defense spending.” For a refresher, see this itemized list of proposed cuts that could save taxpayers $150 billion annually.
  • Prosperity reigns where taxes are low and right to work prevails.”
  • In case you missed it last Friday, check out Cato director of financial regulation studies Mark A. Calabria discussing the Federal Reserve on FOX News’s Glenn Beck show:


Rep. Brady’s CUTS Act

Rep. Kevin Brady (R-TX) has introduced the Cut Unsustainable and Top-heavy Spending Act, which would cut spending by $44 billion annually.  Brady’s effort moves in the right direction but it is a very modest fiscal reform effort.

The legislation, which Brady calls a “down payment on getting America’s financial books in order,” chooses targets that have already been proposed by the Obama administration or the president’s Fiscal Commission. Therefore, the proposal should have bipartisan appeal. For example, Brady’s bill would cut Pentagon spending and eliminate subsidies to the Corporation for Public Broadcasting.

Many of the targets represent “house cleaning cuts” that would reduce spending on bureaucratic activities such as printing and federal travel. The legislation would also reduce the federal workforce by 10 percent per the Fiscal Commission’s recommendation. While there’s nothing wrong with a little house cleaning, these types of cuts would occur on their own if entire government agencies and programs were eliminated.

Eliminating federal agencies and programs should be the ultimate goal. Annual savings of $44 billion only amounts to about 3 percent of the project budget deficit this year, and less than 10 percent of the annual amount needed to be cut to stabilize the debt by 2020. (See this Cato spending cut plan for more details on what is needed to get our budgetary situation under control.)