Peter Orszag on how to permanently improve our government and the economy

One of my favorite political commentators is Peter Orszag, Obama’s former director of the Office of Budget and Management and former director of the Congressional Budget Office. Yesterday, he made several suggestions about how to fix the budget (he is a budget guy, afterall) and how to change our government to account for the fact that partisan bickering and gridlock has increasingly made Congress impotent when addressing our nation’s problems. His column is here.

In particular, he calls for the end of all of the Bush tax cuts and for their replacement with a huge payroll tax cut. (If that sounds familiar, maybe you read my post last week calling for the same thing) His payroll tax cut would be indexed to the unemployment rate, so that taxes are automatically cut when the economy needs it and taxes automatically rise when the economy is strong.

He also advocates an alternative to the disastrous proposed balanced budget amendment, says we should privatize some government functions, thinks we need to prepare for a decade of slow growth, and says we need to invest in badly-needed infrastructure here in America. There’s something for everyone to like in his sensible proposals. Now, whether its possible for any of them to be enacted is another story.

 

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