WSJ: GOP Should Stand Firm on Budget Caps, Sequester

Image: WSJ: GOP Should Stand Firm on Budget Caps, Sequester

Monday, 14 Oct 2013 12:21 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Republicans should avoid giving in to Democratic demands to jettison the spending caps and the sequester that are now in place, according to a Wall Street Journal editorial.

"The way the budget showdown is going, Democrats may soon require the Republicans to pay ransom before they'll allow the GOP to reopen the government and raise the debt ceiling," Journal editors write.

"That's how badly the party's Ted Cruz faction has messed up the politics of all this. But we sure hope part of that price won't be to abandon the budget caps that are the only restraint on President Obama's spending plans."

Urgent: Do You Support Sen. Ted Cruz's Efforts to Defund Obamacare? Vote Here.

Democrats are opposed to that restraint because it cuts spending for their favorite domestic programs, the editorial says. Government spending is on track to decline two years in a row for the first time since the end of the Korean War.

"Meanwhile, the Congressional Research Service has released a new report that shows the sequester caps are providing better fiscal discipline than any budget deal has since 1980," the editorial says.

"Adjusting for inflation, the report finds that the Budget Control Act's estimated deficit reduction over five years will be second only to the 1990 George H.W. Bush-George Mitchell deal."

And unlike in 1990, deficit reduction this time around doesn't include tax increases. "This means the current sequester isn't hurting economic growth by reducing incentives to save and invest," the editorial says.

The public certainly doesn't object to the sequester, the editorial says. A United Technologies-National Journal poll released last week shows that 74 percent of Americans haven't seen any impact of the cuts in their community.

"The harm that President Obama predicted in January, and that Democrats keep claiming, simply hasn't appeared," the editorial says. "This polling on the sequester is a lot better for Republicans than the blame they're getting for the shutdown."

Ideally Congress should pass individual spending bills rather than relying on the automatic spending cuts, the editorial says. Defense spending reductions must be limited, for example.

"But the sequester is the only leverage that Republicans have in any negotiation with President Obama once the debt ceiling is inevitably raised and the partial shutdown ends," Journal editors write.

"If Republicans abandon the sequester now as the price of reopening the government, they will be back at the same old stand of Mr. Obama insisting on another tax increase in return for any entitlement reform. It would turn a political retreat into a policy rout."

Urgent: Do You Support Sen. Ted Cruz's Efforts to Defund Obamacare? Vote Here.

Related Stories:

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Zhudi Jasser: White House Lacks 'Courage' to Use the Word 'Muslims'

Monday, 21 Apr 2014 10:45 AM

The White House lacks "courage" to use the word "Muslims" when admonishing communities to look for extremist tendencies  . . .

Pastor Imprisoned in Iran Issues Easter Message

Monday, 21 Apr 2014 10:31 AM

Saeed Abedini, the 33-year-old Christian pastor imprisoned in Iran, sent out an Easter letter written in the Tehran hosp . . .

US: 'Green Men' Seizing Buildings in Ukraine Are Russian

Monday, 21 Apr 2014 10:25 AM

Some of the "green men" photographed in eastern Ukraine have been identified as Russian soldiers seen in other locations . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved