Economists Prefer Spending Cuts To Rein In Washington Democrats’ Spending Binge
A survey out this morning of economists finds that a majority favors spending cuts – not job-crushing tax hikes – as the best way to tackle the federal deficit. The Associated Press has the details:
“The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts. The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases.
“As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system and simplifying tax rates and exemptions. About 15 percent said the government should enact tough spending caps and cut discretionary spending.”
Republicans agree that Washington needs to cut spending. That’s why they’ve proposed common-sense solutions like real spending cuts and a balanced budget amendment to free up private-sector job creators and lift our economy from the shackles of debt.