Bloomberg:
Representative Brad Miller, a North Carolina Democrat, said the immediate spending cuts will contract the economy. The measure “is going to take money out of the economy, it is going to take money out of people’s pockets,” he said.Of course, cuts in government which result in "taking money out of the economy" should be offset by cuts in taxes which would put that money back into the economy.
We are often asked to "sacrifice" to help pull our nation from the recession. Why can't government sacrifice? Why not cut government and return those savings to the citizenry in the form of tax cuts?
Lets face it. Government growth has afforded us a pool of revenue from which to draw from ... government itself.
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