The White House argues that “draconian” cuts will derail the recovery. No one is listening. Tax cuts are necessary to preserve tax rates that are compatible with economic growth and to stimulate the economy.
The race has started. Contrasting the closed door leadership of Nancy Pelosi to the give and take of John Boehner’s house, the budget cutting ideas are streaming in real time. On the chopping block are 60 federal programs including the Corporation for Public Broadcasting and AmeriCorps as well as hundreds of other programs. The raucous house is a joy to behold and something Tom Delay democrats cannot understand.
Paul Ryan’s hefty $58 billion cuts from Obama’s spending baseline for this year are meet with boos from many of the Republican newcomers who are clamoring to cut $100 billion from the budget in the first year. True to their tea party roots, they complain the Ryan plan is $42 billion short. Now this is change we can believe in.