Massachusetts U.S. Senate candidate Elizabeth Warren and incumbent Sen. Scott Brown have laid out how they would shrink the nation’s $1.2 trillion debt, with each pretty much tracking the positions already laid out by their respective parties.
Warren, the Democratic challenger, favors raising taxes on top earners, while Republican Brown would start by repealing Obamacare, according to a report Wednesday in the Boston Globe
. Warren would not make any changes to entitlements and Brown would likewise steer clear of tinkering with taxes, the Globe said.
The two candidates presented their different deficit attack plans in response to a request by the Globe. In addition to raising the tax rates on higher-income earners making $250,000 or more, Warren said she would also raise estate taxes and end oil subsidies to help cut the federal deficit.
Brown said he would freeze federal pay and consolidate redundant federal agencies, in addition to getting rid of the president’s healthcare reform programs.
“Though Brown has made the deficit a larger issue in his campaign, an analysis prepared for the Globe by a nonpartisan group showed that responses offered by Warren, and positions taken on her website, would trim 67 percent more from the debt over 10 years than those offered by Brown,” the newspaper said.
But Robert L Bixby, the executive director of the nonpartisan Concord Coalition, told the Globe that both candidates’ ideas are basically inadequate when it comes to generating the needed revenues and spending cuts that will be necessary to stabilize the national debt over the next decade.
“They’re both a good reflection of their party’s basic positions, and also a good reflection of why it’s so difficult to do anything about this problem,” Bixby told the Globe.
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