As Written By Allen B. West:
Being the President/CEO of the National Center for Policy Analysis certainly has some awesome benefits — like what happened yesterday. I was able to spend two very personal hours with former President Reagan’s economic adviser, Dr. Art Laffer, the author of the simple, napkin-based, Laffer Curve. Now, all those liberal progressive detractors needs to be aware, Dr. Laffer will readily admit he voted for Bill Clinton for president, twice.
And here on these pages we’ve shared the perspective that between Bill Clinton and Barack Obama, I’d gladly take the former. At least Bill Clinton proved he wasn’t rigid leftist ideologue and worked with the GOP majority in Congress for our economic prosperity.
One thing about Bill Clinton, he’d do anything that made him look good (well, except for THAT…)
But back to the time I spent with Dr. Laffer. He articulated economic principles to induce growth, which we certainly don’t have at this time. Those principles were: a low rate flat tax that broadens the tax base, along with government spending discipline, regulatory reform, and sound monetary policy.
This isn’t rocket surgery folks. Two percent GDP growth should not be deemed the “new normal.” And who’d know better than the economic adviser who enabled this economy to fire on all cylinders at nearly 8 percent GDP growth?
And therein lies one of Dr. Laffer’s primary concerns: our GDP relative to American adults (16 years and older) is the lowest over the past 65 years. Furthermore, there has been a very sharp decline in our GDP since 2000. Laffer states, there is no recovery. As well, he confided in our small group that when you look at total employment as a share of the adult population there has been a dramatic decline with only some 59.5 percent full adult population employment.