John Boehner

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Three days ago, Speaker of the House, John Boehner told a gathering of economists that he wouldn’t agree to a debt limit increase without TRILLIONS of dollars in federal spending cuts.

This sounds good.  Well, a good start.

There are many who believe there is no good reason to raise the debt limit at all.  That to stop the debt right where it is is the best way to start on the road to fiscal sanity.

I have no credentials as an economist.  But it seems that no one can get around the basic idea that income MUST at least match outflow to remain solvent.  If the debt ceiling is constantly being raised, that prospect seems further off.

So, I applaud Mr. Boehner’s leadership.  However, very very soon, their must be no more increase to the debt.  Tax rates must NOT increase until the waste, fraud and duplication in federal spending is weeded out.  There IS a revenue problem.  But it must be solved with growth and federal spending, as the last two plus years demonstrates, does NOT cause economic growth.


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