In the latest Fiscal Fridays interview, Republican presidential candidate Lindsey Graham said substantial reforms to the tax code and federal entitlement programs are essential to reducing the federal debt and protecting the nation’s economic future.
“The purpose of my presidency would be dealing with the unfunded liability that comes from the retiring of the baby boomers,” said Graham, a U.S. senator from South Carolina. He said he would seek a “grand bargain” in which both parties would move away from their traditional resistance to certain policy changes.
In the New Hampshire interview Friday, Graham said he would convene a bipartisan summit and “dust off” the recommendations of Simpson-Bowles commission.
He proposed means-testing entitlement benefits, raising Social Security’s retirement age and asking higher-income Americans to pay more into Medicare. On taxes, Graham suggested capping total deductions and using the revenue to reduce the debt and lower tax rates, which he said would boost the economy.
The Fiscal Fridays series provides voters with in-depth information about presidential candidates’ fiscal and economic plans. First Budget — an initiative of The Concord Coalition and Fix the Debt — is co-sponsoring the series with NH1 News Network, the Business and Industry Association of New Hampshire, and the Warren B. Rudman Center.