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| Source:Eric Cantor- talking to America's Newsroom. |
From Eric Cantor
The House Republican Leadership I believe has won the argument on deficit reduction in 2011. Every time a budget fight has come up, they've gotten budget cuts out of if including in the last debt ceiling debate.
They've won the argument that the Federal Government should stop borrowing and spending and moving past the fiscal policy of the Bush Administration. And that it's time for the Federal Government to get its debt and deficit under control and start paying it down.
Given that, why would they introduce an economic policy that is more of the same and gets us back to the Bush Administration by cutting taxes probably without paying for them and cutting them for the people and business's that are already doing very well and have been doing very well. But aren't spending any money right now that would create a lot of jobs in America. And return us to the days of the Wall Street Scandal of the 2008 and as well as the Wall Street scandal of 2007-08. With no referee's in the game and no one regulating business's and individuals to prevent, stop and punish people when they abuse others in the economy.
What House Leader Eric Cantor is apparently about to introduce in the House when Congress comes back in session next week, is an agenda that looks very similar to the Bush economic policy's: a combination of cowboy economics with no rules in the game. And supply side tax cuts where you cut taxes deeply for people who are already doing very well and you don't pay for them.
The reasons why our economy is in the economic mess that it's in today, is because of the borrow and spending, supply side tax cuts and a neoconservative foreign policy. Where you try to eliminate government's around the World that you don't like with military force and then you don't pay for those military operations as well. Iraq comes to mind because it's the perfect example of this policy.
With the Cantor economic agenda, we'll see campaign commercials in either late 2011 or 2012 or both from House Democratic Campaign Committee, as well as the Democratic National Committee attempting to link and I believe successfully, President Bush with the House GOP and any Republican presidential candidate that endorses it because it's more of the same.
If the definition of insanity is doing the same thing over and over agin and expecting different results, then the Cantor economic agenda is insane by definition, because it's more of the same from what we've seen the last ten years, but expecting it to work better.
What we need to be doing instead as we get out debt and deficit under control is encouraging consumers to spend more money and this can be done with targeted tax cuts. As well as rebuild our crumbling infrastructure but pay for it, especially after a storm like Hurricane Irene. But also to put people back to work. And move this country towards energy independence instead of just subsidizing big oil and gas just for doing well.
