With Congress’ lame-duck session done and buoyant Republicans plotting their economic plan to slash spending and the size of government, the coming week’s lull will be the calm before the storm. Yet by derailing the $1.2 trillion omnibus spending bill that was to keep the government running until next September, the filibuster-happy Republicans have put themselves on the spot to produce a plan that none seem prepared actually to write.
If they cut spending much, or in the wrong places, they won’t just make many constituents angry. They also may wreck a fragile economy before it has a chance to rise on the tax cuts that they just helped Democrats deliver two weeks ago.
What to do?
Sound cuts, key investments
Most economists suggest that Republicans will need to cool their radical rhetoric and learn to make truly judicious cuts, as well as some equally judicious investments in education and infrastructure to bolster the economy over the long term. And they most need to focus on tax reform, which is not to be confused with tax cuts.