- - Wednesday, May 24, 2017

ANALYSIS/OPINION:

Mick Mulvaney is new to the job but he’s on a pace to be the best presidential budget director in modern times. The budget and tax blueprint he stitched together makes all the right moves. It stresses the need for economic growth and advocates the tax and regulatory policies that would get us there.

It stresses federalism and allowing the states to play their constitutional role as laboratories of democracy.

It puts government on a real diet. And it calls out liberal big government failures — one after another after another. Everything from broken foreign aid programs, to urban grants, to useless agencies, such as the Department of Energy research programs and farm subsidies to the wealthiest farmers, to many of the dozens and dozens of job training programs that have only supplied jobs to the trainers, not the trainees, have been put on the chopping block.

Best of all, he wants to overhaul the corrupt and corrupting welfare state — a $1 trillion a year system His greatest moment was when he declared, ‎”If you are on food stamps and are able-bodied, we need you to work.”

But the centerpiece is the Trump tax plan. The White House’s big gamble here is that the tax cuts will generate 3 to 4 percent growth. With 3 percent growth, over the next 20 years the debt as a share of GDP falls to about 50 percent of GDP. Conversely, as the Trump plan demonstrates, the 1.8 growth path former President Barack Obama left President Trump will cause a debt crisis over the next decade or two.

‎This budget, in sum, reverses Obamanomics.

We tried it Obama’s way for eight years and that produced the worst debt record ($9 trillion added in eight years) of any president by a country mile. ‎The economy severely underperformed. Welfare case loads exploded.

A lean fiscal budget with tax cuts and budget reforms that inspire hiring, investing and working will grow the economy. ‎This is a budget that will “put taxpayers first.”

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