When big‐spending politicians in Washington pontificate about “deficit reduction,” taxpayers should be very wary. Crocodile tears about red ink almost always are a tactic that the political class uses to make tax increases more palatable. The way it works is that the crowd in DC increases spending, which leads to more red ink, which allows them to say we have a deficit crisis, which gives them an excuse to raise taxes, which then gives them more money to spend. This additional spending then leads to more debt, which provides a rationale for higher taxes, and the pattern continues — sort of a lather‐rinse‐repeat cycle of big government.
Fortunately, it looks like the American people have figured out this scam. By a 57–34 margin, they say that reducing federal spending should be the number‐one goal of fiscal policy rather than deficit reduction. And since red ink is just a symptom of the real problem of too much spending, this data is very encouraging.
Here are some of the details from a new Rasmussen poll, which Mark Tapscott labels, “evidence of a yawning divide between the nation’s Political Class and the rest of the country on what to do about the federal government’s fiscal crisis.”
A new Rasmussen Reports national telephone survey finds that 57% of Likely U.S. Voters think reducing federal government spending is more important than reducing the deficit. Thirty‐four percent (34%) put reducing the deficit first. It’s telling to note that while 65% of Mainstream voters believe cutting spending is more important, 72% of the Political Class say the primary emphasis should be on deficit reduction. …Seventy‐four percent (74%) of Republicans and 50% of voters not affiliated with either of the major parties say cutting spending is more important than reducing the deficit. Democrats are more narrowly divided on the question. Most conservatives and moderates say spending cuts should come first, but most liberals say deficit reduction is paramount. Voters have consistently said in surveys for years that increased government spending hurts the economy, while decreased spending has a positive effect on the economy.
I wouldn’t read too much into the comparative data, since the “political class” in Rasmussen’s polls apparently refers to respondents with a certain set of establishment preferences rather than those living in the DC area and/or those mooching off the federal government, but the overall results are very encouraging.
Oh, and for those who naively trust politicians and want to cling to the idea that deficit reduction should be the first priority, let’s not forget that spending restraint is the right policy anyhow. As I noted in this blog post, even economists at institutions such as Harvard and the IMF are finding that nations are far more successful in reducing red ink if they focus on controlling the growth of government spending.
In other words, the right policy is always spending restraint — regardless of your goal…unless you’re a member of the political class and you want to make government bigger by taking more money from taxpayers.
So we know what to do. The only question is whether we can get the folks in Washington to do what’s right. Unfortunately, the American people are not very optimistic. Here’s one more finding from Rasmussen.
Most voters are still not convinced, even with a new Republican majority in the House, that Congress will actually cut government spending substantially over the next year. GOP voters are among the most doubtful.