Agree on Goals, GuysDecember 3, 2012 @ 11:35 am
Both sides, however, already recognize the urgent need to boost revenues while simultaneously reducing expenditures. This year, government spending reached one-quarter of GDP—close to a seventy-year high—while receipts amounted to only 15.8%, close to a postwar low. Over the next decade, spending must decline to its Bush-era average of 20%, while revenue returns to its Clinton-era average, 19%. If the two parties could agree on these or similar numbers, they could begin to work together to fill in the details.
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