by Martin Anderson
(1) We must speed up economic growth to increase the take-home pay of workers and to provide more jobs.
- Reduce federal taxes
- Index federal income tax brackets
- Reduce and eliminate counterproductive federal government regulation of business, education, and the professions
(2) Federal spending must be controlled
- Reduce and eliminate waste and extravagance in federal spending
- Establish effective controls on federal spending
- Give the President line-item veto power over the budget
- Transfer certain federal programs, along with the tax resources that finance them, back to state and local governments
(3) Balance the federal budget
(4) Economic policy must be consistent, dependable, with no abrupt changes
(5) Propose an "Economic Bill of Rights"
- Section 1.Limit the amount the federal government can spend
- Section 2.Require the federal budget to be balanced
- Section 3.Prohibit the imposition of wage and price controls
- Section 4. Establish line-item veto power for the President
- Section 5. Require a two-thirds vote of Congress on all major spending bills
This plan should show positive results within at most one to two years.
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