U.S. Senator Tom Coburn Releases Back-in-Black $9 Trillion Deficit Reduction Plan

(WASHINGTON, D.C.) – U.S. Senator Tom Coburn, M.D. (R-OK) today released a new report “Back in Black” that outlines how the federal government can reduce the deficit by $9 trillion over the next ten years and balance the federal budget. The 614-page plan was the result of a thorough and exhaustive review of thousands of federal programs.

“The American people are tired of Washington waiting until the last minute to avoid a crisis, particularly when it is a crisis Washington itself created. The crisis, though, is not the debt limit deadline. The crisis is Congress’ refusal to make hard choices and reduce a debt that has become our greatest national security threat. The plan I am offering today gives Washington 9 trillion reasons to stop making excuses and start solving the problem,” Dr. Coburn said.

“Both parties will no doubt criticize portions of this plan and I welcome that debate. My goal is not to replace the work of the budget committees but to show the American people what is possible and necessary. What is not acceptable, however, is not having a plan and delaying reform until some perfect political moment that will never arrive. The fact is doing nothing is a tax increase, a benefit cut for seniors and the poor, and a betrayal of the core values both parties hold dear,” Dr. Coburn said.

Back in Black Summary (see full report here)

Discretionary & Other Mandatory Decit Reduction
General Government Reforms  $974.08 billion
Congress  $4.28 billion
Executive Branch  $5.40 billion
Judiciary Branch  $7.78 billion
Department of Agriculture  $346.40 billion
Department of Commerce  $26.84 billion
Department of Defense  $1.006 trillion
Department of Education  $409.10 billion
Department of Energy  $101.77 billion
Department of Health & Human Services $106.70 billion
Department of Homeland Security  $23.29 billion
Dept. of Housing and Urban Development $88.73 billion
Department of the Interior  $26.44 billion
Department of Justice  $34.54 billion
Department of Labor  $268.04 billion
Department of State and Foreign Aid  $192.12 billion
Department of Transportation  $192.22 billion
Department of Treasury & GSEs  $39.72 billion
Department of Veteran Aairs  $13.57 billion
U.S. Army of Corps Engineers  $5.28 billion
Environmental Protection Agency  $33.67 billion
NASA  $51.15 billion
National Science Foundation  $14.20 billion
Small Business Administration  $3.22 billion
Other Independent Agencies  $48.89 billion
SSI & SSDI  $17.17 billion

Entitlements
Medicare & Medicaid  $2.64 trillion
Social Security  75+ Years Solvent

Revenue
Reform Tax Expenditures  $962.02 billion
Other Government Revenue  $30.34 billion

Interest $1.360 trillion

Total $9.032 trillion

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: