Editorials
In the aftermath of last week’s cliffhanger budget deal, pundits focused on the size of the cuts, about $38 billion. But while that number sounds large, it is small compared to the cuts that will be debated in the coming weeks, as Republicans try to pass parts of Rep. Paul Ryan’s (R–Wis.) long-term budget plan.If Democratic and Republican leaders really care about shrinking the federal debt and improving employment prospects they will drop the foolish narrative of austerity that has prevailed in recent months. The American economy needs growth, and massive spending cuts will do nothing to bring that about.
By
the Editorial Board
April 14, 2011