No prospective Republican presidential candidate has done more to highlight the issue of debt and deficits than Indiana Gov. Mitch Daniels. He calls it the “new red menace,” an ocean of red ink that he says is every bit as dangerous as the Soviet nuclear threat during the Cold War.
His call to arms gives him a provocative though politically risky platform for a potential 2012 presidential candidacy. Daniels thinks dealing with the debt problem will require a potentially dramatic restructuring of Medicare for future recipients, revamping Medicaid to slow its spending, and altering Social Security for today’s younger workers by raising the retirement age and recalculating the cost-of-living formula.
What Daniels has long been advocating dovetails with the budget blueprint recently unveiled by House Budget Committee Chairman Paul Ryan (R-Wis.). His entry into the race could ensure that a debate between President Obama and Ryan becomes a central issue of the 2012 campaign. More than any other potential candidate, Daniels would test whether voters are ready for the kind of stiff medicine he prescribes.