Tags: Barack Obama | obama | grover norquist | economy | budget

Norquist: US Economy Will Survive Obama

Wednesday, 29 Jan 2014 05:46 PM

The U.S. economy is strong enough to survive eight years of President Barack Obama, says Grover Norquist, founder and president of the influential Americans for Tax Reform.

Norquist dismissed Obama's State of the Union address Tuesday as weak and inconsequential.

"[There was] nothing encouraging and it was more of the same. He has said everything that he said last night before," Norquist told "The Steve Malzberg Show'' on Newsmax TV.

"The good news is we are a fundamentally strong economy and the American people are hard-working, despite the best efforts of the government to beat that out of them.

"We just need to hang on for three more years and get a different president and a different Senate to turn the country around."

Story continues below video.



Norquist said one major plus is the cap on total discretionary spending in the federal budget that was formulated during the sequester.

"So, as long as we [Republicans] have the House or the Senate or the presidency, we can stop that cap from growing," Norquist said.

"So, there's a limit to how much damage Obama can do. He wants to do executive orders, these little edicts. Well, anything that he puts in with a pen, the next president can take out with a pen, and we need to start now to just make sure we know how to dot the i's and cross the t's."

Norquist noted that when Ronald Reagan was elected president, he "undid with a stroke of the pen the price controls on energy, and energy prices didn't go up. They went down, because everybody went out and explored for more energy because there weren't going to be caps on prices.

"People don't build apartment buildings if you have rent control. You get rid of rent control, everybody builds buildings, and so rents go down. It's a little counter-intuitive, but when you put caps on things, you don't get more supply."



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