Reversing course: The 19% solution for the federal budget

Published December 7, 2010 5:00am ET



Instead of listening to the Svengalis who insist that raising taxes is the only way out of the nation’s dire financial straits, new members of Congress should read Reason’s “How to Balance the Budget Without Raising Taxes.”

As Nick Gillespie and Veronique de Rugy point out, federal spending has increased 60 percent in inflation-adjusted dollars since 2001 and now consumes 25 percent of the nation’s Gross Domestic Product (GDP). Raising taxes will just take even more money out of the private sector and push even more people out of work.

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