Send a Tweet
Most Popular Choices
Share on Facebook 4 Share on Twitter Printer Friendly Page More Sharing
General News    H2'ed 6/9/11

Right-Wing Media Hype Pawlenty's Economic Plan -- Which Experts Call "A Joke"

By       (Page 1 of 3 pages)   No comments
Message Media Matters

Right-wing media figures have been hyping the economic plan that GOP presidential contender Tim Pawlenty presented in a June 7 speech. But economic experts, including prominent conservative economists, have called Pawlenty's plan unrealistic, "a joke," and "patently ridiculous."

Pawlenty Presents Economic Plan In Op-Ed, U. Chicago Speech

Pawlenty: "A Tim Pawlenty Plan For Recovery." In a June 7 op-ed in The Chicago Tribune, Republican presidential candidate Tim Pawlenty outlined his plan for economic growth. From the Tribune:

Let's start with a big, positive goal. Let's grow the economy by 5 percent, instead of an anemic 2 percent.


But just changing business tax rates is not enough. That's because we know most job growth will come from small and medium-size businesses, and their owners are taxed under individual tax rates, not corporate rates. So, pro-job and pro-growth tax reform must include individual tax reform as well.

Five percent economic growth over 10 years would generate $3.8 trillion dollars in new tax revenues. With that, we would reduce projected deficits by 40 percent -- all before we made a single budget cut.

The next part of my plan deals with that other 60 percent.

A balanced federal budget should not just be a political sound bite. As one of 49 governors operating with balanced budget requirements, I balanced every budget in my two terms as governor of Minnesota. I know the only reason the Minnesota legislature ever gave me a balanced budget was because, under Minnesota's Constitution, it had to.

That's why I support a constitutional amendment that not only requires a balanced federal budget, but also caps federal spending as a percentage of our economy, around 18 percent of gross domestic product.

But passing a constitutional amendment will take awhile. The crisis that we face requires immediate action. That's why I have proposed capping and block-granting Medicaid to the states, raising the Social Security retirement age for the next generation and slowing the rate of growth in defense spending.

I will also call for Congress to grant the president the temporary and extraordinary authority to freeze spending at current levels, and impound up to 5 percent of federal spending until the budget is balanced.

Pawlenty also outlined the details of his proposal in a speech made at the University of Chicago on June 7. [The Chicago Tribune, 6/7/11; Associated Press, 6/8/11]

"Excellent," "Bold," "Reaganesque": Right-Wing Media Praise Pawlenty's Plan

Hewitt: "Pawlenty's Core Message Ought To Be Adopted By Every GOP Candidate And Repeated By Every Advocate For Every Campaign." In a June 7 post to his blog, conservative radio host Hugh Hewitt said of Pawlenty's economic plan as outlined in The Chicago Tribune: "It is an excellent piece, emphasizing as it does the need for economic growth ...The pro-growth agenda contrasts sharply with the agenda of ever-increasing, creeping state control and higher taxes pushed by President Obama. Pawlenty's core message ought to be adopted by every GOP candidate and repeated by every advocate for every campaign." [Hugh Hewitt, 6/7/11]

Fox Nation: "Pawlenty Outlines Bold Reaganesque Supply-Side Tax Cut Plan." In a June 8 post to Fox Nation, a headline linking to a Washington Post article about Pawlenty's speech read, "Pawlenty Outlines Bold Reaganesque Supply-Side Tax Cut Plan." [Fox Nation, 6/8/11]

But Experts, Economists Say Pawlenty's Plan Is "A Joke"

Holtz-Eakin: "Growth Rate Is Not Going To Be 5%...The Market Just Doesn't Support That." In a statement to Talking Points Memo, Douglas Holtz-Eakin, former Congressional Budget Office (CBO) director under George W. Bush, said of Pawlenty's plan:

"The trend growth rate is not going to be 5% in the United States," Douglas Holtz-Eakin, director of the CBO under President Bush and a top GOP advisor, told TPM. "The market just doesn't support that. It just doesn't." [Talking Points Memo, 6/8/11]

Next Page  1  |  2  |  3

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Rate It | View Ratings

Media Matters Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in Media Matters for America is a not-for-profit, 501(c)(3) progressive research and information center dedicated to comprehensively monitoring, analyzing, and correcting conservative misinformation in the U.S. media.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

How Lou Dobbs scared Rush Limbaugh off the birther story

The Glenn Beck chart

Right-Wing Media Compare Gore To Fringe Preacher Who Incorrectly Predicted Rapture

What "Class Warfare" Really Looks Like

STUDY: The Press And The Pipeline

Right-Wing Media Hype Pawlenty's Economic Plan -- Which Experts Call "A Joke"

To View Comments or Join the Conversation:

Tell A Friend