Addressing the general session of Americans for Prosperity Foundation‘s fourth annual Defending the American Dream summit, author and Fox New contributor Dick Morris told an audience of 2,300 that “The recession is over. It is the cure to the recession that we’re experiencing.”
Morris said that when he worked with President Bill Clinton on cutting and balancing the budget, the spending cuts weren’t to balance budget. The budget was balanced by cutting taxes, which caused increased revenue to flow to the federal treasury. He said Clinton cut the capital gains tax, but Obama wants to increase it. He told the audience that when you raise taxes, you depress the economy.
Obama and the big spenders use the economic crisis as an excuse to increase government spending. Other “problems” are used as additional excuses to increase government control.
Morris said that he believes that Republicans will take control of both houses of Congress this year.
After, there will be two fundamental challenges that remain. First, we have to make sure the people we elect based on pledges to reduce spending keep their word.
Then, the states will come begging to Washington for a bailout. We need to say no, Morris told the audience. States should have a way to declare bankruptcy and get out from under public sector union contracts.
At this time next year, Morris said we’ll be here again keeping those we elected accountable to their promises.