Rep. Moore, you state: “We’re assuming a 2.6% [gross domestic product] growth rate. The CBO assumes a lower GDP growth rate at 1.8%. We think they’re wrong.”
Since President Nixon, this same assumption has been confidently stated — yet, our deficit has steadily climbed to $36 trillion despite these assumptions.
Only one administration managed to balance our budget and reduce our deficit in the past 50 years (1998-2001). They incorporated targeted tax cuts/increases, maintained a strong economy and cut/raised targeted spending.
A thoughtful multi-prong approach, not a blanket tax cut. This work is harder, but the results are better. Our $36 trillion deficit proves it.
Revenue and spending are your tools — use both.
If the Congressional Budget Office is wrong, we face the pain of a larger deficit reduction and less spending on interest. If you’re wrong — the definition of insanity.
K. Ellis Davis, South Jordan
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