Last week Mr. Franklyn Wilson was interviewed by Tribune Business, and finally a card carrying member of the PLP lays it on the line that cutting government spending is the key.
Here are his points in summary:
1. Neither political party wants to reduce the size of government.
2. As a result the government only focuses on the revenue side of the budget.
3. While the tax base has shrunk all and sundry seem to want subsidies of taxpayer money.
4. Slowing spending 6% (reducing the size of government) would provide the same benefit as raising taxes.
Economic growth (private sector) is what creates jobs not government spending. In other words, the opposite of what we've been getting for a long time now.
As Charles Kadlec noted in Business Insider;
"The path to more robust growth is first to stop doing what demonstrably has not worked for the past two years. As I wrote in “Toward a New Economic Consensus,” studies by professors from Harvard to the London School of Economics are providing a growing body of empirical evidence that shows the combination of spending restraint and reductions in tax rates are the best ways to stimulate economic growth and employment."
Now we need more of the business community including the bankers, oil companies, food stores, and yes the Chamber of Commerce - business in general - to stand up for what we know is right.