If we can have policies that will encourage maximizing economic growth, all problems are easier to solve with a strong, growing economy.
Pat Toomey
The Public Record
Patrick Toomey is a former United States Senator from Pennsylvania, serving from 2011 to 2022. A member of the Republican Party, Toomey was known for his focus on fiscal conservatism, economic growth, and limited government. During his tenure, he served on several Senate committees, including the Banking, Housing, and Urban Affairs Committee, where he was involved in financial regulation and economic policy discussions.
I think we should be very conscious of the fact that reducing tax expenditures, it matters very much which ones and how we were to go about doing it.
But I think it is worth noting, and I think you will all agree, that the growth in Federal revenue is related to the growth of the economy.
I would like to make another point about this which has to do with inflation.
I would just urge us to consider that there is another theory here, which is that Government can't really create demand on balance.
The main reason that total revenue as a percentage of GDP is so much lower than the historical levels is because we have an economy that is still effectively in a recession.
I think if you want everybody to have prescription drugs, then I don't know why in the world you wouldn't have Medicare negotiate with the drug companies for prescription drugs if the taxpayers are going to pay for them.
There could not be a worse time, I believe, to give an unelected and unaccountable bureaucrat a blank check.
At a time when our Nation's unemployment rate is over 9 percent, this would be a very dangerous gamble.





