Mr. Speaker, the thesis that balancing the government budget in that three year period would create recession is a view that was in vogue 30 years ago if you subscribe to Keynesian economics. In our view it does not operate today.
The reason it does not operate is because at our levels of debt and taxation, a dollar left in the hands of a taxpayer, a lender or investor today is more productive than that dollar in the hands of a politician or a bureaucrat. That is the 1990s economics.