GOP Must Win the Deficit Debate

Thursday, 30 Jun 2011 09:08 AM

By Michael Reagan

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
If the GOP is really serious about winning back the presidency they need to win the deficit debate. The government of these United States is broke — flat broke — and if the nation is to survive as the prosperous nation it has long been, Republicans must restore fiscal sanity and call a halt to spending money we don't have!

That's what the Republicans promised us they would do last November, and largely on the strength of that pledge we let them take back the House. After all, it's obvious that we can't trust the Democrats to spend the public's money wisely and well.

President Obama is promising to seek $3 in spending cuts for every $1 of new taxes, exactly as my father Ronald Reagan sought to do. When he passed away in 2004 he was still waiting for that $3. Barack Obama can expect the same dismal outcome.

Ask the first President George Bush how it worked out when he cut a deal with the Democrats in 1991 to reduce the deficit by $500 billion. All he had to do was go back a little on his "Read my lips — NO NEW TAXES" pledge and raise taxes just a little bit.

The Democrats promised not to use the tax issue in the 1992 elections. They promptly hung President Bush with it. So I say to the Republican leadership, as Margaret Thatcher once said to GHW Bush, "Now is not the time to go wobbly." Stick to your guns and call a halt to spending nonexistent dollars.

Unlike the Democrats, who have long been able to win elections by buying votes with lavish government programs paid for with phantom dollars, Republicans have for the most part demanded that fiscal sanity play a large part in determining the wisdom of enacting new programs or financing existing ones.

Democrats have no problem with spending what I like to call "tomorrow money," big bucks stolen from future generations, who aren't around to protest having enormous debt loads placed on their shoulders even before many of them have even been born.

Tragically, we have now reached the point where it's time for Peter — that's this generation — to pay Paul, yet unborn, by paying for the cost of government programs with today's dollars. That would require that we stop spending tomorrow's dollars. Of course, in that case Democrats would start losing elections.

In this era of the Obama recession, Republicans had better stiffen their spines, stand erect and challenge Obamanomics before the president drags us over an economic cliff.

As I said, for the GOP, this is no time to go wobbly.

Michael Reagan is the son of President Ronald Reagan, a political consultant, and the author of "The New Reagan Revolution" (St. Martin's Press, 2011). He is the founder and chairman of The Reagan Group and president of The Reagan Legacy Foundation. Visit his website at www.reagan.com, or email comments to Reagan@caglecartoons.com.



© Mike Reagan

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> 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:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Pelosi's District Exempt From Water Rationing

Friday, 22 Aug 2014 10:44 AM

It’s axiomatic that leftist leadership is always in favor of sacrificing for the environment if someone else is doing th . . .

Sacramento Bureaucrats Weigh Sex Bill

Wednesday, 20 Aug 2014 14:10 PM

The same people who want to legalize prostitution now want to legalize sex among amateurs. . . .

Republicans Must Embrace Inclusion to Win Elections

Monday, 18 Aug 2014 11:24 AM

Regular readers know that I believe my father was right when he urged Republican leaders to be in favor of a “Big Tent”  . . .

Most Commented

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