Documents/SAD

Saving the American Dream: The Heritage Plan to Fix the Debt, Cut Spending, and Restore Prosperity

Strategic_Plan

Start: 2011-05-10, Publication: 2012-11-28

Source: http://www.heritage.org/research/reports/2011/05/saving-the-american-dream-the-heritage-plan-to-fix-the-debt-cut-spending-and-restore-prosperity

Saving the American Dream is The Heritage Foundation's plan to fix the debt, cut spending and, above all, restore prosperity. It balances the nation's budget within a decade—and keeps it balanced. It reduces the debt and cuts government in half. It eliminates government-mandated health care and fully funds our national defense. It squarely confronts Social Security, Medicare, and Medicaid, the three so-called entitlement programs, which together account for 43 percent of federal spending today. To encourage Americans to become more fiscally responsible, the Heritage plan redesigns our entire tax system into an expenditure tax that will have a single, flat rate. This is a structure that will promote savings, therefore benefiting individual Americans, our body politic, and the economy.

At the end of the day our plan, while economic in nature, has a higher moral purpose. If entitlements are not reformed, the next generation and future ones will have to pay punitive tax rates that will end liberty as we have known it. Our proposal, which was funded by a grant initiative set up by the Peter G. Peterson Foundation, aims to preserve America's promise bequeathed to us by past generations.

Submitter:

Name:Owen Ambur

Email:Owen.Ambur@verizon.net

Organization:

Name:The Heritage Foundation

Acronym:THF

Stakeholder(s):

  • Edwin J. FeulnerPresident, The Heritage Foundation

  • Peter G. Peterson FoundationOur proposal, which was funded by a grant initiative set up by the Peter G. Peterson Foundation, aims to preserve America's promise bequeathed to us by past generations.

  • Stuart M. Butler, Ph.D.Author -- Distinguished Fellow and Director, Center for Policy Innovation, Center for Policy Innovation -- Stuart M. Butler, a nationally recognized architect of public policy, directs the Center for Policy Innovation. This new division of The Heritage Foundation is charged with designing the next generation of breakthrough ideas. Butler envisioned the Center for Policy Innovation, or CPI, as the "iPod division" of Heritage--a small, loosely structured group assembled to research and develop radically innovative solutions to some of America's toughest challenges. "Think of CPI as a think tank within a think tank," Heritage President Edwin J. Feulner said in announcing the division. "It will be a freewheeling research laboratory dedicated to thinking ‘outside the box' to devise landmark policy recommendations consonant with time-tested, conservative principles." Before taking the helm of CPI in August 2010, Butler guided Heritage's domestic policy research for almost 30 years. As vice president for domestic and economic policy studies, he helped shape the debate on critical issues from health care and Social Security to welfare reform and tax relief. Butler, who remains on Heritage's senior management team, sees the Center for Policy Innovation as a mechanism for assembling "virtual think tanks," each dedicated to addressing a seemingly intractable problem...

  • Alison Acosta FraserAuthor -- Director, Thomas A. Roe Institute for Economic Policy Studies -- As Director of the Roe Institute for Economic Policy Studies, Alison Acosta Fraser oversees Heritage Foundation research on a wide range of domestic economic issues including federal spending, taxes, energy and environment, retirement savings and regulation. One of the Roe Institute's priorities is reform of the federal retirement programs - Medicaid, Medicare and Social Security. Under Fraser's leadership, Heritage research has helped define and communicate the long-term fiscal threats from spending and taxes and identify solutions and proposals for reforms. Fraser is a member of the Fiscal Wake-Up Tour, designed to educate Americans about the nation's true long-term financial condition and large and growing fiscal imbalance and to encourage Americans to demand action. The tour conducts of town hall forums, business roundtables and editorial board briefings across the country. By uniting with analysts from across the political spectrum on the Fiscal Wake-Up Tour, Heritage hopes to encourage the spirit of bipartisan honesty and discussion that will be necessary to preserve the strength of the American economy for posterity. Unless Congress fundamentally recasts Medicaid, Medicare and Social Security, Americans within two generations will be saddled with European levels of taxation and economic stagnation...

  • William W. BeachAuthor -- Director, Center for Data Analysis and Lazof Family Fellow -- As Director of The Heritage Foundation's Center for Data Analysis, William W. Beach is the think tank's chief "number cruncher." He oversees Heritage's original statistical research on taxes, Social Security, energy, crime, education, trade and a host of other issues, ensuring it is both rigorous in technical scholarship and produced in time to help inform public debate. Under Beach's leadership, Heritage has acquired one of the largest collections of privately held public-policy databases in the United States, as well as a variety of peer-reviewed analytical models. Together, these acquisitions allow the Center for Data Analysis (CDA) to produce some of the most sophisticated calculations done anywhere in the world. Because of his ability to boil down complicated data into plain language and real-world examples, Beach is a reliable source for news reporters and a frequent guest on television and radio talk shows. He serves on the Economics Advisory Panel for ABC News...