There are several very good things about the RSC plan.

First, it puts all spending categories on the table, including defense (even though in a minor way) and Social Security. Second, it balances the budget by 2020. Third, while spending goes up between today and 2021, it grows by $600 billion, which is much less than the increase in the Obama budget ($1.9 trillion) or even Chairman Ryan’s budget ($1.1trillion). That means the RSC proposal makes the Ryan plan a floor rather than a ceiling for budget negotiations, which is great.

Yesterday, Nick Gillespie and I did an interview with John Stossel about the budget wars (it will air on Fox Business Network on Saturday at 9 p.m. and midnight, and Sunday at 9 p.m). In the segment before ours, Stossel talked to Rep. Scott Garrett, chairman of the RSC Budget and Spending Task Force, who explained that Washington lawmakers always mistakenly assess their budget plans in reference to projected levels of future spending, when the only relevant data to measure a budget against is the current spending level. I agree entirely — that’s the only way that you can measure whether a bill actually cuts spending or not.

Congressman Garrett voted against TARP and against the prescription-drug-benefit law passed under President Bush, which prompted Stossel to tell him, “You are the real deal.”