Insight Over 350 Experts Call for Entitlement Reform Now APRIL 2, 2011 Download the letter April 4, 2011 The Honorable John Boehner The Honorable Harry Reid Speaker of the House Senate Majority Leader Washington, DC 20515 Washington, DC 20515 The Honorable Nancy Pelosi The Honorable Mitch McConnell House Minority Leader Senate Minority Leader Washington, DC 20515 Washington, DC 20515 Dear Speaker Boehner, Minority Leader Pelosi, Majority Leader Reid, and Minority Leader McConnell: The President’s National Commission on Fiscal Responsibility and Reform concluded that we are at a national “moment of truth,” saying: “We cannot play games or put off hard choices any longer. Without regard to party, we have a patriotic duty to keep the promise of America to give our children and grandchildren a better life.” AMERICANACTIONFORUM.ORG To this end, the undersigned implore the Congress to include fundamental entitlement reform in its Budget Resolution for Fiscal Year 2012. There can be no greater national priority than reducing the prospective explosion of federal debt. It threatens the economic prosperity of this great country and represents a betrayal of our national obligation to deliver a better future to the next generations. Military leaders have identified future federal red ink as a national security threat. The unabated sea of federal spending lies at the intersection of these budgetary, economic, and national security threats. Reforming entitlements must be at the top of the agenda for the 112th Congress. Such an act of Congressional leadership will promote job growth, support more rapid economic growth, and rekindle the American dream of upward mobility. We respectfully ask that the Congress include in its budgetary plans over the next 10 years reforms of the greatest budgetary threats: the Patient Protection and Affordable Care Act, Medicaid, Medicare, and Social Security. Respectfully, [Affiliations listed for identification purposes only, does not constitute institutional endorsement] Wayne Angell, Angell Economics, former Governor of the Federal Reserve Board Michael Boskin, Stanford University, former Chairman, Council of Economic Advisers James Buchanan, Virginia Tech, Nobel Laureate Ernest Christian, Center for Strategic Tax Reform Tom Duesterberg, Manufacturer’s Alliance/MAPI Bill Frenzel, Brookings Institution, former Member of Congress Diana Furchtgott-Roth, Hudson Institute Douglas Holtz-Eakin, American Action Forum, former Director, Congressional Budget Office R. Glenn Hubbard, Columbia University, former Chairman, Council of Economic Advisers AMERICANACTIONFORUM.ORG Art Laffer, Laffer Associates Bob McTeer, National Center for Policy Analysis, former President, Federal Reserve Bank of Dallas Pam Olson, Skadden Arps, former Assistant. Secretary for Tax Policy, Treasury Department June O’Neill, Baruch College, CUNY, former Director, Congressional Budget Office Rudy Penner, Urban Institute, former Director, Congressional Budget Office Murray Weidenbaum, Washington University in St. Louis, former Chairman, Council of Economic Advisers Burton Abrams, University of Delaware Douglas K. Adie, Ohio University Lee C. Adkins, Oklahoma State University William P. Albrecht, University of Iowa Donald L. Alexander, Western Michigan University Leslie Alperstein, Washington Analysis Corp. Ryan C. Amacher, University of Texas, Arlington Geoffrey Andron, Austin Community College Joseph Antos, American Enterprise Institute David Aschauer, Bates College George R. Averitt, Purdue North Central Costas Azariadis, Washington University in St. Louis Charles Baird, California State University, East Bay Ray Ball, University of Chicago Spencer Banzhaf, Georgia State University AMERICANACTIONFORUM.ORG W. Steven Barnett, Rutgers University James R Barth, Auburn University Atin Basuchoudhary, Virginia Military Institute Mark Bayless, Wayne State University Charles M. Becker, Duke University Bruce Bender, University of Wisconsin, Milwaukee Bruce L. Benson, Florida State University C. Gregory Bereskin, St. Ambrose University Sanjai Bhagat, University of Colorado Joydeep Bhattacharya, Iowa State University Roger C. Bird, Avian Associates LLC Robert G. Bise, Orange Coast College David Blond, Quantitative Economic Research Group Bruce A. Blonigen, University of Oregon Richard Boden, University of Toledo Elizabeth C. Bogan, Princeton University Cecil E. Bohanon, Ball State University Samuel Bostaph, University of Dallas Donald J. Boudreaux, George Mason University William Boyes, Arizona State University Scott Bradford, Brigham Young University Ike Brannon, American Action Forum AMERICANACTIONFORUM.ORG David A. Brat, Randolph Macon College Jeffrey R. Brown, University of Illinois, Urbana-Champaign Jan K. Brueckner, University of California, Irvine Lawrence Brunner, Central Michigan University Jay H. Bryson, Wells Fargo Securities Todd G. Buchholz, Two Oceans Management Richard Burkhauser, Cornell University Edwin T. Burton, University of Virginia Andrew Busch, BMO Capital Markets James L. Butkiewicz, University of Delaware William N. Butos, Trinity College Noel D Campbell, University of Central Arkansas Richard J. Cebula, Jacksonville University Dustin Chambers, Salisbury University Don M. Chance, Louisiana State University Chun-Hao Chang, Florida International University Robert Chatfield, University of Nevada, Las Vegas Kenneth Chilton, Lindenwood Univeristy Gregory C. Chow, Princeton University Carl F. Christ, Johns Hopkins University Lawrence R. Cima, John Carroll University James E. Clark, Wichita State University AMERICANACTIONFORUM.ORG David L. Cleeton, Oberlin College Warren Coats, International Monetary Fund, retired John P. Cochran, Metropolitan State College of Denver Ben Collier, Northwest Missouri State University Robert Collinge, University of Texas, San Antonio Roger Congleton, Roger Congleton Lee Coppock, University of Virginia Mike Cosgrove, University of Dallas Erik Craft, University of Richmond Eleanor D. Craig, University of Delaware Steven Craig, University of Houston Robert Crawford, Brigham Young University Robert Crouch, University of California, Santa Barbara Mario J. Crucini, Vanderbilt University Julie Berry Cullen, University of California, San Diego Coldwell Daniel III, University of Memphis Minh Dao, Eastern Illinois University Lawrence S. Davidson, Indiana University Antony Davies, Duquesne University Arthur De Vany, University of California, Irvine Stephen J. DeCanio, University of California, Santa Barbara Clarence R. Deitsch, Ball State University AMERICANACTIONFORUM.ORG Robert Dekle, University of Southern California Greg Delemeester, Marietta College Allan DeSerpa, Arizona State University James DeVault, Lafayette College William G. Dewald, Ohio State University P.J. Dhrymes, Columbia University Arthur M. Diamond, Jr., University of Nebraska, Omaha James A. Dorn, Towson University Joanne M. Doyle, James Madison University Joseph W. Duncan, Micro Mite Economic Consulting Floyd Duncan, Virginia Military Institute James Rolph Edwards, Montana State University-Northern John B. Egger, Towson University Michael A. Ellis, Kent State University Alain C. Enthoven, Stanford University Richard Ericson, East Carolina University Bill Even, Miami University Dino Falaschetti, Florida State University Mira Farka, California State University, Fullerton Allen Featherstone, Kansas State University Susan Feigenbaum, University of Missouri, St. Louis J. Peter Ferderer, Macalester College AMERICANACTIONFORUM.ORG Mark J. Flannery, University of Florida Christopher J. Flinn, New York University James Forcier, University of San Francisco Murray Frank, University of Minnesota Micah Frankel, California State University, East Bay Ralph R. Frasca, University of Dayton Douglas Frechtling, George Washington University Gary French, Economic Consultant Luke Froeb, Vanderbilt University Roth Gabriel, Independent Institute Douglas Gale, New York University Stephen W. Gallagher, Societe Generale Alejandro Gallegos, Winona State University B. Delworth Gardner, Brigham Young University Dave Garthoff, The University of Akron Robert Genetski, classicalprinciples.com Mark Gertler, New York University David Gillette, Truman State University Micha Gisser, University of New Mexico Charles J. Goetz, University of Virginia William L. Goffe, SUNY Oswego Stephan F. Gohmann, University of Louisville AMERICANACTIONFORUM.ORG Rodolfo Gonzalez, San Jose State University Lawrence Goodman, Center for Financial Stability, Inc. John Goodman, National Center for Policy Analysis Kenneth V. Greene, Binghamton University Steven A. Greenlaw, University of Mary Washington Earl Grinols, Baylor University Darrin Gulla, University of Kentucky Thomas Guthrie, FM Fincorp R. W. Hafer, Southern Illinois University, Edwardsville Dennis Halcoussis, California State University, Northridge Reza Hamzaee, Missouri Western State University Gary Hansen, University of California, Los Angeles Eric Hanushek, Stanford University Stephen Happel, Arizona State University Arnold C. Harberger, University of California, Los Angeles Govind Hariharan, Kennesaw State University David E. Harrington, Kenyon College Scott E. Harrington, University of Pennsylvania William R. Hart, Miami University Joseph Haslag, University of Missouri Joel W. Hay, University of Southern California Will C. Heath, University of Louisiana, Lafayette AMERICANACTIONFORUM.ORG D. W. Hedrick, Central Washington University Bradley K. Hobbs, Florida Gulf Coast University Randall G. Holcombe, Florida State University Andrew Holmes,