Mark Neumann: “I want to reemphasize that working model of curtailing the growth of Washington spending that is so important in…”

“I want to reemphasize that working model of curtailing the growth of Washington spending that is so important in understanding what has happened out here. Washington spending, before we got here, a 5.2 percent growth rate. After we got here, 3.2, a 40 percent slower growth in Washington spending. When Washington spending is less, that means Washington borrows less money out of the private sector. This was a theory in 1995: if Washington borrowed less money there would be more money available that would keep the interest rates down, and with the interest rates down people would buy more houses and cars. Of course, that meant people had to build them. That is what has led to the full employment, is those job opportunities that come as people make decisions, the interest rates are down, they have the opportunity to achieve the American dream. It is this curtailing of Washington spending, coupled with the strong economy, and they feed on each other, that has allowed this to happen. It was a theory in 1995. It is now a proven commodity. It works and it is being shown in the economy that we are in today.”