Election Over—Now What?

By: Dr. Lynn Reaser

While votes in some parts of the country are still being counted, the overall outcome is clear.  The Democrats still control the White House and the Senate, while Republicans are in charge in the House.
The economy remains the number one concern of Americans.  What is the most important action that must now be taken?

Resolve our debt crisis
Americans and financial markets demand that the U.S. finally put its financial house in order.  This does not need to be done over night, but a credible plan is critical.  That plan must include:  (1) Tax reform to broaden the tax base and remove inequities, distortions, and inefficiencies; (2) Entitlement reform to rein in the future growth of spending, especially for Medicare and Medicaid; (3) Rules to force Congress to pass a budget on time each year.

The U.S. economy is healing, with an upturn in housing that is likely to help drive better growth in 2013.  What business and consumers need is greater certainty that our government is working.

Obama.2012.US News. January 30,2013


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