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While public investment may take longer to unleash its positive forces, the case for it is compelling, in part because rising entitlement expenditures have crowded out government's investment activities.
It's clear that reining in "auto-pilot" entitlement expenditures is the key to sustaining balanced future provision of public services and ensuring a robust economy.
But, like other progressives, she reflexively ridicules any Republican who frankly discusses the need to tackle unbridled entitlement expenditures.
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Perhaps the campaign's most telling exchange took place on Fox News two weeks ago, when the Tea Party-embracing Senate candidate in California, Carly Fiorina, was asked seven times by Chris Wallace to name "one single entitlement expenditure you're willing to cut" in order "to extend all the Bush tax cuts, which would add 4 trillion to the deficit".
And yet another audit office report published two months ago says the same problems remain, and that the Slipper judgment "highlighted that... it is very difficult for the standards of accountability... to be effectively applied in relation to entitlements expenditure by parliamentarians".
We could curb military expenditures (Do we really need eight hundred and twenty military bases around the world? Fifty thousand troops in Germany?) and reform entitlement spending, by, for example, indexing the retirement age to life expectancy.
Entitlement spending never stopped growing.
Entitlement spending.
Slash entitlement spending!
"I don't think that anyone thinks between now and March 18th we will resolve entitlement reform, tax expenditures and all the other issues that go into a much bigger deal," the White House spokesman, Jay Carney, said.
Office of Management and Budget committee chair Jacob Lew, along with top economic adviser Gene Sperling "walked through proposals for getting savings out of health care entitlement programs, tax expenditures and budget process changes," according to a Democratic official familiar with the talks.
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