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Townhall
Finance
Without
Deep Spending Cuts, the Republicans
Lose the House in 2014
by Larry Kudlow
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 spending cuts. That includes every program of the
federal
government, according to the survey.
So
Republicans can persuade the public about
bold spending cuts. They can make it their key message and central
marketing
strategy. If they don’t, they risk losing the House in 2014.
Voters
are smart. Another Rasmussen poll shows
that 68 percent of Americans say cutting government spending is the
solution to
our economic problems. Support for cutting government spending has
generally
remained in the high 60s to low 70s over the past couple of years.
Voters
realize full well that a private, free-enterprise economy that holds on
to more
of its hard-earned money while the government share of the economy
shrinks is
pro-growth. Limited government is a tax cut.
Unlike
the recent fiscal-cliff tax-hike deal,
we need to let successful earners, investors, and risk-takers keep more
of what
they earn as an incentive to remain the activists who drive the
economy. Of
course, Obama wants another $1 trillion in taxes. But Republicans must
just say
no. (While they’re at it, the GOP should cut tax rates for large and
small
businesses to 25 percent…
Read
the rest of the article at Townhall
Finance
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