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Restructuring US Easier Than People Think: Wilson

Restructuring America and balancing the budget is "easier than people think it is," Harry Wilson, Maeva Advisors chief executive, told CNBC Tuesday.

"If you set aside Medicare and Social Security and cut everything else 2 percent a year for five years, and have tax reform that broadens the base and lowers rates—just those two things alone bring the budget within balance within five years," said Wilson, who was part of the U.S. Auto Task Force charged with restructuring General Motors .

Wilson's Final Thoughts

Long-term entitlement reform would still be necessary, he said, but in the short term "at least you get the easy part done," because there is bipartisan support in Congress for modest cuts, including defense spending.

But Wilson thinks Americans shouldn't "support any Democrat or Republican running for Congress" unless he or she supports, on the record, "a plan to get to a balanced budget within five years."

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