“Now Prove It”

Keith Hennessey gives excellent advice to the GOP.

4. Don’t waste all your time on nickels and dimes and process reforms; instead, slow entitlement-spending growth.: Yes, it’s good to cut stimulus spending. To eliminate earmarks. To cut discretionary spending back to 2008 levels or lower, and to wage the usual left-right appropriations battles. These are important for restoring confidence in government, undoing some of the worst spending excesses of the past two years, and atoning for Republican spending sins. Such actions will be popular with many who voted to remove Democrats from power. Yet they are quantitatively insignificant in the long run.

Craig Newmark

Associate Professor of Economics, North Carolina State Univ.

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