Republicans Offer $23B Spending Cut, Whoop-Dee-Do
I should create a “too little, too late” category to characterize the latest effort of the Republicans to decrease the $3.6T budget by 0.64%. What's needed to rescue the economy from the Internet and housing bubble collapses is a sound fiscal policy, a sound monetary policy, and a realistic view of big government spending.
The GOP has no credibility on fiscal restraint, and hasn't since Bush 41, and the Democrats think they are resurrecting FDR in Obama, when instead FDR, Carter, and Obama are all cut from the same cloth. Obama speaks out against deficit spending from one side of his mouth, and spews a $3.6T budget blueprint onto an eager-to-spend Congress from the other.
What needs to be done, now, is to end the stimulus and rescue measures immediately and to focus instead on restoring the capital markets by remaking the United States as an attractive place for businesses that make real things for real people as quickly as possible. That's why I support infrastructure improvements but decry borrowing to make them happen.
I'm unhappy that there appears to be no leader that is making a credible call to end the borrow-and-spend cycle and to strengthen the dollar, but I have no credibility to make them do it myself.
Josh Poulson
Posted Thursday, Jun 4 2009 10:35 AM
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