You Fix the Budget, says the New York Times

President Obama’s bipartisan committee is hard at work on solutions to slash the federal deficit. Bush tax cuts and changes to such things as Medicare, Social Security and foreign aid are all topics under consideration for savings. However the New York Times wants you the reader to step to the reducing table – it claims "You Fix the Budget". "You Fix the Budget," claims the Times – because Washington could be at it for years to come.

It’s being declared ‘You Fix the Budget’ in this ‘Age of Austerity’ still

The Times' "You Fix the Budget" puzzle is something that they are doing to help see people can help with Cutting the deficit. The federal debt will lead the govt right into an "Age of Austerity." Politicians all know this. Readers can make the tough decisions without pressure from lobbyists or fear of alienating a constituency. Will the austerity of politicians match the austerity of NY Times readers?

$400 billion more than possible in 2015

The federal debt will hit $400 billion greater than could be sustained by 2015. This is what economists are expecting. It makes sense that the small deficits will continue forever since the shortfall from the previous year's Budget is paid by one year's economic growth.

$400 billion is beyond that level far too much. Experts say that could be more than 2 percent of the nation’s output for 2015 – that’s half the Pentagon’s annual Budget plus more than half of the Budget for Medicare. On the bright side, writes the Times, $400 billion is nevertheless much smaller in context than the deficits with which Greece and Ireland are currently struggling. It’s also smaller than the United States federal debt from 1990 to 1994.

Politically unlikely for debt to cut

William Gale of the nonprofit public policy organization the Brookings Institution suggests that what the NY Times audience decide on how much taxes ought to rise and the way much spending ought to be cut is something that will "probably be something that isn’t politically feasible now". Voters have tended to favor politicians who speak generally about reducing the deficit, instead of those politicians with specific plans of action.

Articles cited

NY Times

nytimes.com/2010/11/14/weekinreview/14leonhardt.html?_r=1

NY Times

nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html