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Without Deep Spending Cuts, the Republicans Lose the House in 2014

RJBJr Wrote: Jan 19, 2013 7:34 AM
Dear Mr. Kudlow: "...spending cuts equal economic growth." This is the problem. You need to explain this better. Seems to me, if you stop borrowing $1.2Trillion per year from the Chinese, the economy will be harmed. That's enough to put us in a depression. We've been living on foreign money money for so long it would take a long time for the economy to adjust to a balanced budget. During that adjustment period lots of people would lose jobs. Better have a plan ready to employ those 30 million more people who would need private sector jobs.
hteja Wrote: Jan 19, 2013 8:18 AM
RJBJr First of all that $1.2T borrowing is not only from China; it includes 4 or 5 other nations including the UK & Japan. Secondly reducing government & it spending reduces taxes,; reduced taxes means capital reinvestment in companies stateside to increase employment. Increased employment equal greater productivity & new tax revenue streams to pay down our debts. No one says its going to be easy & their will be some shrinking & growing pains. It should take between 5-10 years if the government would be willing to take real advise from the private sector. DC accounting & economics has not worked at least since 1904.
Chris from Kalifornia Wrote: Jan 19, 2013 8:30 AM
Politicians either don't get it or they don't care. Jerry Brown, here in CA raised taxes again and now wonders why they don't get more revenue. Doesn't seem to have a clue that businesses and people are leaving the state as fast as they can to go to places that tax less. I will be gone shortly from here and Yay Me! I'd have been gone long ago except for the housing fiasco foisted on us by the likes of Barney Frank, who has the morals of rat in heat.
RJBJr Wrote: Jan 19, 2013 11:25 AM
Hteja. If you reduce taxes and spending you have done nothing about balancing the budget. There will still be a long period before the economy picks up enough to absorb those who will be laid off. A better plan is to freeze spending and grow the economy through a more efficient set of capitalist incentives and opportunities.
Okay, it’s official. According to the Treasury Department, the U.S. debt jumped to $16.1 trillion in 2012 from $14.8 trillion in 2011. That’s a $1.3 trillion deficit for the last year. Remarkable. During President Obama’s first term, the federal debt rose by roughly $6 trillion.
Now, if they are bold, House Republicans will take advantage of these dismal numbers. Bold means bold spending cuts, as in cut spending like there’s no tomorrow. Bold means implementing the $1.2 trillion spending sequester. Bold means an absolute rock-solid commitment to spending cuts. A new Rasmussen survey shows that 62 percent of Americans favor across-the-board...
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