You cannot grow wages through more government spending - Granite Grok

You cannot grow wages through more government spending

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by Rep. Dave Testerman (Hill & Franklin) |

With the N.H. legislative session over for the summer, I am taking time to write on current issues. The Legislature left a large conundrum on the table when it passed an irresponsible budget that the governor had to veto. Hopefully, we will be able to come to a consensus on a budget that will fit into our means and way of life in New Hampshire. The majority party seems not to understand this. Our generation does not have the right to saddle our children and grandchildren with crushing, massive socialist debt. Our parents and past legislatures left us in good shape. We need to do the same. The 1000 Clowns Show this last week is how NOT to do that.

In the Democratic presidential debates, there were many noble proposals put forth to have the federal government spend billions and trillions of dollars to create a bureaucracy to administer Medicare for all, free college tuition, the forgiveness of student loans and more. These candidates have come up with a myriad of ways to tax the producers of economic growth to fund these programs. But they cannot show the American people the arithmetic that will pay for all of their free programs that are not free at all.

Not one candidate gave a proposal that would reduce the wasteful spending of the federal government. Not one candidate gave forth a recommendation as to how they will achieve economic growth, so wages in the private sector will grow. You cannot grow wages through more government spending. You can raise wages through a growth rate of our economy above 3 percent annually.

Obama-Biden economists said that 3 percent plus growth rate was no longer possible. President Trump did not believe that the days of growing our economy are over. He has put policies in place to achieve that growth. The Democrats will give our younger generation crushing national debt that will be impossible to repay. This generation does not have the right to leave our children with this crushing debt.

New Hampshire’s budget mirrors what is suggested at the federal level. We can and must do better.