Congressional Republicans reportedly presented President Obama with several tax cuts they'd like to see included in the proposed "stimulus" package at the White House today. They should think long and hard about this. Are these cuts – if included – really a source of salvation for the bill? Do they actually countervail the fact that it will be an irresponsible creation of debt that will fail to fulfill its stated purpose, if for no other reason than because it's a stimulus in name only? (The Congressional Budget Office is reporting that less than forty percent of the funds will actually be spent anytime soon, and most of the money is simply being directed towards liberal pet causes and projects.)
The real stimulus the economy needs is federal cession, if you will. The Congress and the President ought to approve across the board, permanent tax cuts that will yield a greater portion of the economy to the private sector and give individuals, families, and businesses an increased income that they can depend on year in and year out. Only this will create the conditions required for economic growth, not further inflationary, deficit, and one-time spending. For this reason no Congressional Republican should deem it responsible to support the legislation in any form that will be acceptable to a Democratic Congress and President.
Politically, supporting the stimulus won't help improve the Republican brand either. If Democrats want to saddle future generations with more debt without accomplishing anything for that steep cost than they shouldn't be given any cover. If they want to jump off of a bridge then Republicans can't stop them, but neither do they have to join them.
The choice in this matter is easy. As the saying goes, good governance is good politics; so too is the opposite. Oppose this "stimulus."
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