Prof. Stephen T. Parente shared his ideas for generating trillions in savings with Politico.com.

A frustrated President Barack Obama last week reportedly declared "enough is enough" during one debt limit discussion with Republicans. Frustration aside, the problem is that both parties have been using the wrong tools to try to fix the right problem.

Arguing about the scale of Medicare cuts or size of tax increases on unrelated industries pushes both parties into their respective ideological trenches. They should focus instead on a "grand bargain" for health care finance, which could allow both sides to declare victory well before the debt bomb explodes.

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