Friday, October 21, 2011

Save $2 Billion on U.S. Aid?

Connie Veillette of the Center for Global Development and John Norris at the Center for American Progress have outlined 5 specific recommendations on savings that could be achieved through simple reforms of some U.S. aid policies and procedures. They call them Five Steps to Make Our Aid More Effective and Save More Than $2 Billion. 

A short paper with a discussion of these 5 options is linked here.

With the new U.S. Budget Control Act, Ms Veillete has since informally redubbed it: Five Super Ideas for the Super Committee. Under the Budget Control Act, a Joint Deficit Reduction Committee is tasked with finding up to $1.5 trillion in savings over ten years. The Committee is free to look at revenues, entitlements, and discretionary spending. This “Super Committee” began its work in earnest this month and is required to have some kind of plan by November 23rd. The deadline for House and Senate votes on the Super Committee’s recommendation is December 23rd. 

That means there’s a lot in play during a short period of time. Yes, there’s a long way to go to reach $1.5 trillion, but as they say…a billion here, a billion there, and pretty soon you’re talking real money.

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