Tuesday, November 15, 2011

Jeff Sachs' Deficit Reduction Strategy

Cuts to government spending are inevitable. The question is what to cut. Most Americans think we spend a fortune on foreign aid and should slash it. Actually we spend about $25 billion a year on foreign aid, less than 1% of our $3.5 trillion annual budget. The fortune is spent on the military -- $700 billion annually, more than the rest of the world spends on defense combined!

Jeff Sachs dancing at Sauri Millenium Village

Jeff Sachs, noted economist, educator, author and founder of the Millennium Villages Project (one of Eliminate Poverty Now's partners) offers a strategy to cut $175 billion annually in spending (that's $1.75 trillion over 10 years which is what the Congressional Committee on Deficit Reduction is trying to find) and does it by being penny-wise and pound-wise at the same time.

Here's a link to this important article which appeared in the Huffington Post.

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