• About Us
  • Activity
  • Advertising
  • Books
  • Business
  • Contact
  • Dashboard
  • EB5
  • Entertainment
  • feedback
  • Forgot Your Password?
  • Government
  • Home
  • Interviews
  • Login
  • Members
  • Meme generator
  • National
  • Nevada
  • Nevada News and Views
  • Newsmax
  • NN&V Ads
  • Opinion
  • Pick a New Password
  • Politics
  • Polls
  • Privacy Policy
  • Profile
  • Recent comments by me
  • Recent comments on my posts
  • Register
  • Submit post
  • Subscribe
  • Subscription Confirmation
  • Survey
  • Survey
  • Terms of Service
  • Today’s Top 10
  • Travel
  • Travel
  • Travel
  • Welcome!
  • Yop Poll Archive
Nevada News and Views
  • About Us
  • Advertising
  • Contact
  • More
    • Nevada
    • Opinion
    • Business
    • Travel
    • News
    • Sports
  • Facebook

  • Twitter

  • Pinterest

  • RSS

Opinion

Federal Government Spending Must Be Cut To Sustainable Levels

Federal Government Spending Must Be Cut To Sustainable Levels
N&V Staff
July 27, 2011

(Sean Whaley/Nevada News Bureau) – A senior fellow with the Cato Institute said today the partisan fight over reducing federal spending is really between one class of people who work, produce, save money and pay taxes and a second group that lives off of the first group.

“This whole political clash between the Republicans and Democrats is really a clash in the electorate,” said Gerald O’Driscoll, a senior fellow with the Cato Institute. “And the first group wants to stop paying as much taxes; certainly does not want to pay the taxes that are implied by the debt that has been racked up in order to pay off on promises to the second group that can’t be fulfilled.

“This is reality coming home and that’s ultimately what underlies this great political debate,” he said.

O’Driscoll, who lives in Reno, was interviewed on the Nevada NewsMakers television program.

The demand to cut federal spending has been linked by Republicans to raising the debt ceiling. The deadline for Congress to act on raising the debt ceiling is one week away, with Republicans and Democrats apparently still far away from any kind of agreement on how to cut spending.

O’Driscoll said federal government spending is at unsustainable levels right now.

“As recently as the Clinton Administration, government expenditures were 18.2 percent of total output of goods and services, GDP,” he said. “And they were 20 percent, a little under 20 percent, going into this downturn. Now they are 25 percent. That is more than the economy can pay.”

O’Driscoll said the federal income tax and other associated tax revenues produce about 19 percent of GDP on average, so the government can’t afford to spend 25 percent.

“That is unsustainable,” he said. “That is a big cutback that has to occur.”

The Cato Institute is a public policy research organization that describes itself as being “dedicated to the principles of individual liberty, limited government, free markets and peace. Its scholars and analysts conduct independent, nonpartisan research on a wide range of policy issues.”

Prev postNext post

Related ItemsCato Institutedebt ceiling
Opinion
July 27, 2011
N&V Staff

Related ItemsCato Institutedebt ceiling

More in Opinion

Question 1 on Nevada Ballot is Not What It Seems

N&V StaffNovember 1, 2022
Read More

Roadmap To Saving Nevada

Troy La ManaOctober 21, 2022
Read More

The Lil Governor That Couldn’t

Troy La ManaOctober 10, 2022
Read More

Nevada Continues To Fail Our Students

Troy La ManaOctober 9, 2022
Read More

This Failed Policy Needs To End

Troy La ManaOctober 8, 2022
Read More

Viguerie: If We Stand Up for Parents’ Rights Now, We Will Win!

N&V StaffOctober 7, 2022
Read More
Scroll for more
Tap

Subscribe Free By Email

Looking for the best in breaking news and conservative views? Let Chuck do all the work for you! Subscribe to his FREE "Muth's Truths" e-newsletter.

* indicates required
Nevada News and Views
Nevada News & Views is an educational project of Citizen Outreach Foundation, a non-partisan IRS-approved 501(c)(3) organization. It is not associated or affiliated with any political party or group. Nevada News & Views is accessible by the public at no cost. It funds its operations through tax-deductible contributions from donors and supporters and does not accept government money or grants.

TAGS

Featured Article Nevada Politics business Muth's Truths government Opinion Government Muth’s Truths Obama Ron Knecht News Donald Trump GOP Republicans

Copyright © 2022 Citizen Outreach | Maintained by VirtualAlly

Programming Changes Results In Loss Of Iconic Las Vegas Radio Program
Obama, Holder Busted In Gunwalker Cover-up