Cato Institute proposes fiscal responsibity

Well – sort of. Chris Edwards has put forth “Downsizing the Federal Government” with $300 billion in proposed spending cuts by 2009. Highlights:

Eliminating the Dept. of Education and its $62.8 billion budget.

Eliminating HUD and its $46.2 billion budget.

Reducing the USDA by 38% saving $29.7 billion.

Cutting HHS by 11% saving $63 billion.

Cutting DOT by 20% saving $11.6 billion.

Various and sundry other cuts saving $87 billion.

Bold or wishful thinking? Good or bad ideas? Read the details and decide, but note that these spending reductions will only bring the unified budget in balance with the General Fund deficit being cut by less than half. And it would seem the Bush Administration is not exactly following the advice of the Cato Institute these days. But give Mr. Edwards an A for effort.