Morning Bell: Saving the American Dream by Cutting Debt, Taxes and Spending

Mike Brownfield / May 25, 2011

It might not be front-page news in the mainstream media, but according to a new poll, a large majority of Americans are alarmed at the prospect of U.S. debt continuing to grow past its already astronomical $14.3 trillion limit. They’re right to be worried, as America’s out-of-control spending takes the country down a road to decline. America is on an unsustainable fiscal path, and that’s why The Heritage Foundation has released a plan to tackle the problem: “Saving the American Dream: Heritage’s Plan to Fix the Debt, Cut Spending, and Restore Prosperity.”

Heritage released its plan as part of the Peter G. Peterson Foundation’s 2011 Fiscal Summit, in which six research organizations from across the political spectrum provided long-term fiscal plans to solve America’s spending crisis. Of all the plans, Heritage’s proposal reduces the national debt held by the public the most and keeps federal spending and taxes at the lowest levels.

Heritage today also launched a new website, www.savingthedream.org, to highlight how its fiscal plan would reshape the federal government to better serve young adults, seniors, families, entrepreneurs and low-income workers. Read the full “Saving the American Dream” report here. (more…)