From Power to Purpose, by Sam Brownback: on Budget & Economy


Growing the economy will balance 80% of budget

One of the lessons of the 2006 elections was that a lot of people were unhappy with the increases in government spending during the Bush presidency and a Republican Congress. That's a valid criticism. Balancing the budget is a 2-step process. First, we have to cut taxes and stimulate the economy in order to get it growing. Economic conditions at the end of 2006 were very good, with historically low unemployment, a dynamic stock market, and a strong personal income.

The US is a marvelous economic machine with a 12-trillion-dollar economy. When you get an economy that large up and rolling with a 3 or 4% rate of growth, that stimulates enormous revenues for individuals and businesses. It also kicks off a lot of tax receipts to governments at all levels. Next, and the most important step by far, is to grow the economy. That may be 80% of balancing the federal budget.

Source: From Power to Purpose, by Sam Brownback, p.220 Jul 3, 2007

  • The above quotations are from From Power to Purpose:
    A Remarkable Journey of Faith and Compassion,
    by Sam Brownback.
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