These idiots are going to totally kill the American economy.
|Rep. Paul Ryan (Wis.) and Sen. Judd Gregg (N.H.), the senior Republicans on the House and Senate Budget committees have praised a proposal by the fiscal panel’s Democratic co-chairman, Erskine Bowles, to limit government spending and revenue to 21 percent of gross domestic product.|
“Get spending down and revenues up. … That would be very close to a stable situation,” Gregg told The Hill.
Cutting spending in this economy will be like dropping a bomb on it. You might as well just do that.
And their idea for "getting revenues up" is tax hikes. Another bomb.
Nowhere is anyone saying anything about growing your way to a lower deficit, like we did after WWII (when the deficit WAS THE LARGEST IN HISTORY!!!). Taxes were cut, but the spending boosted economic output and the deficit came down as a percent of GDP.
Judd Gregg is a total moron. And Erskine Boles is, too!