Committee for a Responsible Federal Budget

MY VIEW: Eugene Steuerle

Oct 4, 2012

Eugene Steuerle has a tongue-in-cheek post in his "The Government We Deserve" blog on why Americans should choose him as President after last night's debate. In it, he satirizes some of the more petty and political aspects of the debates and the 2012 campaigns more broadly.

But enough about me. Now to real policy for real Americans––that is, those who show their respect for America by voting against my opponents.

First, you. You’ve paid an unfair share of taxes and gotten an unfair share of benefits. You’re not like that rich guy who pays no income tax or the welfare cheat with houses in Malibu and Miami. They support my opponents. But I understand you. If you’re rich, you already pay infinitely more tax than someone with no income with which to pay taxes. That’s not fair. And if you’re poor, it's clearly because my opponents' government policies don’t support you enough or don’t give you adequate incentives. That’s not fair, either.

As for the 99.5 percent of you who are in the middle class, my opponents continually tell you how much they care, but they really don’t.  If they did, why do they confine their borrowing from China and other friendly lenders to a few trillion dollars?

Next, jobs. My opponents hire Harvard economists who calculate the expected growth in the labor force assuming that the unemployment rate will decline to about 5 percent. Then each claims that he individually will create the jobs that the economy would normally create. Not me. Under my policies, the unemployment rate will fall to 4 percent, so I will create at least 1 million more jobs than either of my opponents.

To spur economic recovery, I've combined the Democratic Keynesian and Republican supply-side economics of my opponents. That means I can spur demand when I provide you more benefits and increase supply when I reduce your taxes. The former will induce people to spend more, the latter will encourage them to work and save more. Under Steuerle-conomics, a dollar of spending and a dollar of tax cuts will together spur several dollars of increased output, while reducing the deficit because of the economic expansion and investment.

And let me thank you in advance, my fellow Americans, for accepting those higher benefits and lower taxes for the good of your country.

As for the budget, I will take whatever increased deficit I might induce and cut it by two-thirds by the end of my two terms. My opponents pledge to cut their additional deficits only by half, and usually for years after they’ve left the White House.

The full piece can be found here.

"My Views" are works published by members of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the committee.