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EconoMeter: Is GOP budget plan good for the economy?


Sunday, July 24, 2011

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Kelly Cunningham, National University System

Although apparently politically unfeasible, the plan addresses the federal government’s real problem of overspending. While the debt limit must and will be raised, government’s out of control spending, borrowing 40 cents of every dollar spent, is a course toward national bankruptcy. In a stagnant economy the focus should be on pro-growth policies, not anti-growth tax increases on employers. Substantially cutting next year’s projected deficit, instituting statutory spending caps and requiring Congress to forward a balanced-budget constitutional amendment are all steps in the right direction. Regrettably, fiscally responsible spending does not seem to be the objective for this administration