Monday, March 07, 2011

Does the tea party know this?

Karl Rove points out that cutting spending alone won't bring a quick recovery:
It is surely essential that Republicans justify spending cuts on fiscal and moral grounds. It is also essential to make the case for restoring robust growth and job creation.

The political genius of Ronald Reagan is that in 1980 he added a pro-growth emphasis (supply-side economics) to his economic message. In 1976, when Mr. Reagan unsuccessfully challenged President Ford, he concentrated more on austerity.

Americans today want to know what steps Republicans will take to create more jobs, bigger paychecks and greater prosperity. A good starting point for the GOP would be to outline a comprehensive tax reform that scrapes preferences out of the tax code and makes it simpler, flatter and fairer.
I think the technical details will put people to sleep, but the key is restoring a sense that businesses and investors can rely on a tax and regulatory climate that will justify the risks involved in hiring more people.

If the Right can keep from dissipating its current surge in feuds over the issues where it has no consensus and focus on the main economic goals, we could get back on track. A moral reawakening is still necessary and I don't see that on the horizon, because, when it comes down to it, economic recovery only delays the inevitable.


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