Reducing Size of Government Will Reduce Debt
The president’s proposal to combine several trade and commerce agencies may not save large numbers in spending, but it is still a step in the right direction, says Mercatus Center Senior Research Fellow Veronique de Rugy.
“By reducing the size of government, the president is taking small step to cut spending and reduce our debt problem,” said de Rugy. “By eliminating redundancy and waste through the agencies, we’ll reduce our debt-to-GDP ratio, which reached an unprecedented 100 percent this week.”
“What we need is to get rid of all the duplicative programs in the federal government. Unfortunately, the president’s proposal only scratches the surface,” said de Rugy. “Reducing the size of the economic pie that the government holds usually allows room for the private sector to expand. This helps generate economic growth and jobs that we desperately need right now.”