Читать книгу Northern Light: Lessons for America from Canada's Fiscal Fix - Robert P. Murphy - Страница 17

The single most important lesson to draw from the Canadian success is the need for sharp and immediate spending cuts. To translate the Canadian experience to the United States would imply a cut of $66 billion in the first year of reform, followed by an additional $262 billion cut in the second year of reform. By the third year – if the United States were to continue following the Canadian example – total non-interest spending could resume growing again, but only at a restrained pace.

To achieve such aggressive cuts in federal spending, every program must come under review. There is simply no way around this. Cuts in absolute spending would be necessary across the major CBO budget categories in order to mirror the Canadian approach to total program spending. Likewise, a comparable drawdown in federal employment would mean reducing federal government payrolls by 378,000 over the course of three years.