Republicans should be careful what they wish for

Republicans should be careful what they wish for.

Government spending now is over 30% of GDP.

Shrink government spending by only 10% you immediately contract the entire economy by 3%. DOW down 10% right away. Unemployment (official) up to 13%.

Shrink governmnet spending by 30% (roughly enough to balance the budget) and you contract the economy by 10%. DOW down by 40-60%. Unemployment over 20%.

It may be true (at least open to honest debate) that the deficit is too large and the budget needs to be balanced. We can debate that. If so, it needs to be done gently, like slowly turning a supertanker around, not crashing it into an iceberg.

have a peaceful day,
Bill

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