Trump’s Bob Kerrey Budget

Without entitlement reform, everything else gets squeezed.

think of it as the vindication of Bob Kerrey. The former Nebraska Senator and a few other brave Democrats warned repeatedly in the 1990s that failing to reform entitlements would eventually squeeze other progressive programs. Well, here we are.

.. There is no way the U.S. can afford its entitlement commitments without 3% growth, much less balance the budget.

.. But that merely takes defense up to 3.2% of GDP, before declining to 2.3% in 2027. This is hardly Ronald Reagan’s defense buildup—which peaked at 6% in 1986—reflecting how entitlements now eat up so much more of the federal fisc.

..The White House also wants to reform programs that have ballooned during the Obama years and effectively become a guaranteed national income. The budget cuts $193 billion over 10 years from food stamps, mainly by letting states impose a work requirement; $72 billion from the Social Security Disability Insurance program; and $12.5 billion by requiring a Social Security number to receive the earned-income tax credit or child tax credits.