The only wor­thy topic for bud­get talks — spend­ing con­trol

The Washington Times Weekly - - Commentary -

or “bud­get sum­mit.” It will re­quire a sus­tained ef­fort, over sev­eral years, at re­align­ing gov­ern­ment pri­or­i­ties, dis­card­ing those that are not true re­quire­ments of the na­tional gov­ern­ment, and fun­da­men­tally re­struc­tur­ing gov­ern­ment pro­grams, es­pe­cially the en­ti­tle­ments.

Those who shud­der at the thought of such “aus­ter­ity” should re­mem­ber that gov­ern­ment does not cre­ate the re­sources it so gen­er­ously re­dis­tributes — the econ­omy does. The more gov­ern­ment smoth­ers eco­nomic ac­tiv­ity un­der pub­lic spend­ing, taxes, bor­row­ing and reg­u­la­tion, the less there is for ev­ery­one — those who rely on the gov­ern­ment’s safety net and those who don’t.

Bal­anced bud­gets are still the sound­est bench­mark for pub­lic fi­nance, but how bal­ance is achieved is cru­cial. The only true and last­ing bal­ance comes from lim­it­ing gov­ern­ment — and that re­quires lim­it­ing gov­ern­ment spend­ing.


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