...this problem of eliminating the budget deficit of a trillion and a half dollars is something that cannot be done overnight...The solution, of course, is to design an American program for prosperity...
New York, NY (PRWEB) May 25, 2011
On Lou Dobbs Tonight, Mr. Dobbs posed this question “Republican Party right now seems conflicted, it seems adrift and in some ways divided over what to do about entitlements, how strong to go against more spending. What is your sense of what is happening and should be happening?”
Lehrman states in response: “...this problem of eliminating the budget deficit of a trillion and a half dollars is something that cannot be done overnight. The proposal by Paul Ryan was very dramatic, one Republican called it radical, (and) not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. ”
“The Republican Party must be focused on how we increase income and … increase the level of real wages that have been falling for more than a decade.”
“We need a tremendous program of investment, investment comes from savings. When you pay savers zero percent at the bank (to) middle income professionals (and) working people … you are not going to (encourage) them to save. We are then left with a bank (cycle) of debt, leverage, boom, panic and bust.”
The Gold Standard Now's founder and Chairman, Lewis E. Lehrman, has re-emerged in the national spotlight with his March 17th testimony before the House Subcommittee on Domestic Monetary Policy. As a result, thousands of international newspapers, magazines, and online venues took note of Lehrman’s call for monetary reform in The Wall Street Journal’s April 26th editorial feature as an essential element to creating the conditions for federal spending restraint, including Forbes.com, Atlas Economic Research Institute’s Sound Money Project, India Times, NHInsider.com, Fuse.tv, and The Supply Side Blog.
About The Lehrman Institute
The Lehrman Institute is dedicated to public policy, educational and historical research. It was founded in 1972 by Lewis E. Lehrman. The Lehrman Institute has sponsored a wide range of research and discussion in the fields of economics, historical research, foreign policy, and urban policy. TheGoldStandardNow.org is a news and commentary aggregator focused on domestic and international monetary policy issues.