RPC Must Read June 24, 2011

Reducing Federal Debt

Lessons on Fiscal Rules from Other Developed Countries and U.S. States

Spending reductions, rather than tax increases, are more successful in reducing budget deficits, so concluded a Joint Economic Committee Republican Staff review of deficit reduction programs since 1970.   Furthermore, with the assistance of specific fiscal rules, long-term deficit reduction cannot only be successful, but will set the groundwork for sustained economic growth. 

To read the full Republican Staff Commentary from the Joint Economic Committee, click here.