

Can and will they cut spending?
Our congressional members’ plan for a serious budget reduction in the future does not work without a big initial down payment in spending cuts.
Today's Congress cannot bind future Congresses, and Congress has been notoriously unreliable with respect to the fiscal management of the country's finances.
Only a naive observer of today's political environment could believe that Congress will constrain spending to bring the deficit under control when the economy improves. The only point that the left might have is that fiscal stimulus might have a small temporary benefit when the money is originally spent, but the extent of the benefit depends on how the money is spent, e.g., infrastructure, tax rebates, government program, etc., and technical arguments about the multiplier effect of the spending. However, it has a negative impact when it is finally paid for.








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