by
Gary S. Becker
(Rose-Marie and Jack R. Anderson Senior Fellow; member of the Working
Group on Economic Policy; and member of the Task Force on Energy Policy)
The federal deficit has ballooned in recent years, and even
larger deficits are coming due to the expected growth of entitlement
spending. There is little disagreement among members of both political
parties that federal spending should be reduced. In such an environment
it is crucial that the right criteria guide the cuts that will be made.
Across-the-board cuts are not a thoughtful way to make choices.
