When President Donald Trump signed a major budget deal into law last week, it may have been a temporary fix for a government shutdown, but the spending continues.
In fact, Trump claimed Republicans were “forced to increase spending” in order to attract Democratic votes, CNN reported.
But President Trump should start talking about where he will make cuts before spending gets even more out of control. He must begin telling his base how he will take care of debt, which will, in turn, improve the markets.
The time for cuts is now. Except for the Department of Defense, the president has to shake out duplicity and get rid of a couple departments. When he is asked what he’s doing about the deficit, he avoids the question and talks about growth. I’m all for growth too, and the economy needs it, but we also need good fiscal policies and spending cuts for the prosperity of future generations.
Few remember that Ronald Reagan required every department to cut spending, with the exception of defense.
There was no option. And once those departments started looking at their budgets and where to trim the waste, most actually cut more than what was expected. Toward the end of Reagan’s presidency, the economy improved because the government became smaller.
There is opportunity for sovereign growth if we cut the size of our government. It’s possible to get to the same place where Norway is—with more money than they can spend. Norway has the highest sovereign wealth in the world, and the U.S. can aim for this, but not without smaller government.
Dan Celia is President and CEO of Financial Issues Stewardship Ministries, Inc., and host of the nationally syndicated radio and television program “Financial Issues,” heard daily on more than 600 stations across the country and reaching millions of households on the National Religious Broadcasters Network, BizTV and Dove-TV. To learn more, visit www.financialissues.org.