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Let me keep pounding the drum I beat yesterday.
A front-page article in The New York Times today reinforces the need for politicians to talk about economic growth, not just budget cuts.
David Leonardt writes:
“We look back on the late 1990s as a rare time when the federal government ran budget surpluses. We tend to forget that those surpluses came as a surprise to almost everybody. As late as 1998, the Congressional Budget Office was predicting a deficit for 1999. In fact, Washington ran its biggest surplus in five decades. What happened? Above all, economic growth. And that may be a big part of the answer to our current problems.”
He goes on to show how faster economic growth now could ease the deficit.
In politics, a positive and optimistic message always beats gloom and doom. That’s why Ronald Reagan won while many green-eyeshade, bean-counting Republicans lost.
Who will relearn that lesson this decade?


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One comment on “Outgrowing the Deficit

  1. Carbine says:

    And how do we encourage growth, Gary? By raising taxes on the wealthy? By increasing the number and scope of regulations on businesses? By empowering unions? By imposing more and more costly mandates on businesses? By preventing the implementation of foreign trade deals?

    Sadly, I think the average leftist would answer ‘yes’ to most of those questions.

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