Restoring America’s Future is a plan for that new course. It was developed by a bipartisan task force that is chaired by former Senate Budget Committee Chairman Pete Domenici and former White House Budget Director and Federal Reserve Vice Chair Alice Rivlin, and includes 19 former White House and Cabinet officials, former Senate and House members, former governors and mayors, and business, labor, and other leaders. The plan reduces and stabilizes the debt at 60 percent of the economy, and it reforms personal and corporate taxes to make America more competitive, ensures that Social Security can pay benefits to future generations, and controls health care costs.

To be sure, Restoring America’s Future makes tough choices. It freezes discretionary spending, reforms programs, ends tax deductions, and raises new taxes. But, by stabilizing the debt, reforming the tax code, and controlling health care costs, it lays the groundwork for a brighter future.