The Republican Party’s Pledge to America promises to put the federal government on a path to a balanced budget. They promise to cut taxes and deregulate business while in another section they propose to increase spending on defense, the war, and national security. Republicans made a similar promise some 30 years ago. Seen at its basic structure, such a plan would decrease income, increase spending and promise to balance the budget all at the same time. When that was first proposed George Bush the elder called it “voodoo economics.” From my perspective, it still is voodoo economics. When implemented, this plan resulted in a tremendous increase in the federal deficit.
George Bush the younger tried the same plan, cutting income and increasing spending. The result was the same: massive increases in the federal deficit. And, the scary thing is Republican leadership pledges to do it again. It is frightening to conceive that the leaders of our nation, after examining the historical record, would try the same failed scheme. But, I think they are very smart people. Maybe they really do know it’s an unworkable plan and are just using it as a political ploy to gain votes. That, from my perspective, is even more frightening.