Newt Gingrich on Budget & Economy
Former Republican Representative (GA-6) and Speaker of the House
The guts of that Trojan horse were taken nearly verbatim from Reagan's 1985 State of the Union speech. The core of that speech, the heart of Reaganism, venerated the new Republican mantra of cutting taxes on wealth and slashing government spending on entitlement programs. "Entitlement" became identified with a newly-revised, all-purpose political scapegoat: the undeserving poor.
The massive budget cuts in the Gingrich Congress in 1995 were the cutting edge of Reagan's 1985 vision of boosting growth and balancing the budget by cutting regulation on corporations, taxes on the wealthy, and spending on the poor.
I met the Republicans halfway on the amount of Medicare savings. The Republicans accepted a smaller tax cut, the child health insurance program, and the big education increase. We had produced the first balanced budget since 1969, and a good one to boot. Senator Lott and Speaker Gingrich had worked with us in good faith, and Erskine Bowles, with his negotiating skills and common sense, had kept things going at critical moments.
I think the baby boomers are now old enough that we can have an honest dialogue about priorities, about resources, about what works, about what doesn't.
I think on a bipartisan basis, we owe it to our children and our grandchildren to get this government in order to be able to actually pay our way. I think 2002 is a reasonable time frame and I would hope we can open a dialogue with the American people.
The Contract from America, clause 3. Demand a Balanced Budget:
Begin the Constitutional amendment process to require a balanced budget with a two-thirds majority needed for any tax hike.
The Contract from America, clause 6. End Runaway Government Spending:
Impose a statutory cap limiting the annual growth in total federal spending to the sum of the inflation rate plus the percentage of population growth.
[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:
The Fiscal Responsibility Act:
A balanced budget/tax limitation amendment and a legislative line-item veto to restore fiscal responsibility to an out-of-control Congress, requiring them to live under the same budget constraints as families and businesses.
|Other candidates on Budget & Economy:||Newt Gingrich on other issues:|
Incoming Obama Administration:
Former Bush Administration:
Pres.George W. Bush
Former Clinton Administration: