The so-called Super Committee has been tasked with finding $1.5 trillion in deficit reduction over the next ten years. Though with the President’s recent call for another half-trillion in stimulus that he claims would be payed for, they would need to find $2 trillion. In light of the committee’s upcoming work, I penned a letter to the 12 selected members with a 
simple message: focus on spending and pro-growth tax policy. Here’s an excerpt:
When President Clinton left office, spending was also at the same level at 18.2 percent, but over the last decade it has risen now to an astonishing 25 percent of GDP. It is a false hope that new “revenues,” a euphemistic description for higher taxes, will be able to close this gap and save politicians from making any hard decisions. The economy can ill-afford for such fantastical thinking to win the day. Under the circumstances, it is the exact opposite that is needed. Destructive double taxation on capital gains, dividends and death should be eliminated, and spending should be cut back to the historic average for revenue.
One source of savings which CF&P has identified is the U.S. taxpayer subsidy of the OECD, which advocates for big government policies while working to undermine tax competition. The U.S. accounts for almost 25% of the organization’s annual budget, and although the savings would be a drop in the bucket compared to the sheer volume of red-ink that Washington has created, it’s an easy call to start by eliminating subsidies to an organization which works against the very taxpayers who fund it.
These two videos help explain further how free markets enhance economic growth, while big government reduces it:
