This is from Meet The Press two Sundays ago, but they just put up the transcript, and it seemed worth noting.
Noted economist and Village Elder Bob Woodward sums up Beltway conventional wisdom, which is that if we cut entitlements and 'stabilize' the debt, it will lead to economic growth and and lower unemployment.
They are just saying, let’s fix a little bit on the entitlement front, and they’re not saying let’s start tomorrow cutting. They’re saying, let’s start in 5 years or 10 years. It is all doable and fixable.
And then this gets to the engine of the economy. And if you fix that, if you stabilize the debt in some reasonable way, we’re going to have growth. The unemployment rate should come down.
- Culture of Truth