EconoMeter: Is GOP's budget plan the answer?
Lower tax rates, lower spending aimed at lower deficits, but at a cost
Roger Showley, SAN DIEGO UNION-TRIBUNE
Friday, March 23, 2012
Kelly Cunningham, National University System
The plan begins to introduce a rationale course to address the nation’s overwhelming and unsustainable deficit spending. A far better plan than President Obama’s proposal of large tax increases and additional spending raising the national debt another $1 trillion a fourth consecutive year, or for that matter lack of any budget proposal from the Democratic controlled Senate in three years. Restructuring tax rates, changes in Medicare, and reining in discretionary domestic spending are movements in the right direction. Not addressing these issues will inevitably lead to debt problems requiring far more painful adjustments than anything in the Republican proposal.