That's to say, Ryan and the rest know you don't get an economy off its back by letting anyone's tax cuts expire, the way Obama and the Pelosi Democrats hoped to end past reductions for $250,000-plus earners. Ryan and the rest know new jobs don't flow from "stimulus" bills that redirect spending from the private marketplace to outlets favored by powerful political constituencies. They know earmarks hardly precipitated the current crisis in federal spending, but they also know that congressmen qualify for little public trust with spending priorities better suited to re-election plans than to any larger good.
The new Republican House -- oh, how one prays to be right about this! -- knows one thing the Pelosi minions never gleaned. To wit, things can't go on the way they've been going. The old House's leadership believed money grew on trees. It doesn't. It grows from guts and gray matter -- from courage and imagination. Tight and narrow regulations, government mandates, and tax policies based on the notion that government knows who deserves to have what sum of money and who doesn't -- stuff of that sort kills jobs, instead of creating new ones.
White House cooperation with the new House vision of economic restoration would be welcome. To tell the truth, it would be glorious. Provided -- here's the hitch -- the House drives the car, while the President sips the Slurpee. The overdue acknowledgement that needs to come from Barack Obama is that while elections have consequences, as in 2008, new elections have new consequences. Like the ones we hope -- finally, at last -- are on the way.
In Honor of His 103rd Birthday, Here Are The 20 Best Quotes From The Late, Great Milton Friedman | John Hawkins