A new contract?
1) Jobs, jobs, jobs. Gingrich recommends a 50 percent reduction in payroll taxes, a 100 percent write-off for small business investment in tools and technology, zero capital gains, and lowering the corporate tax to 12.5 percent. Obviously, we are talking about private sector job creation.
2) Balance the budget. From 1994 to 1998, federal spending growth was held to 2.9 percent annually, the smallest increases since Calvin Coolidge. The result was four years of surpluses and a $405 billion reduction in the national debt. Much would now accomplished by devolving power to the states under the 10th Amendment.
3) An American Energy Plan. Drill here, drill now. Build nuclear reactors. Rein in the Environmental Protection Agency's "bureaucratic dictatorship on energy production."
4) Congressional Appropriation Reform. Eliminate earmarks, post bills 72 hours before voting, reverse the Republican spending habits that undermined fiscal discipline during the Bush Administration.
5) Litigation Reform. The states have found the quickest and cleanest road to tort reform is to cap open-ended "non-economic damages." Compensating hospital costs and lost wages is fine, but open-ended awards for pain-and-suffering or punitive damages are limited only by jurors' imagination. With these few limitations, we can have lawsuits without throwing whole industries out of balance.
And more.



Or you could make it even simpler. As Daniel Henninger says this morning: "You need one big club to beat the blob into a size appropriate for what we still call the United States. Barack Obama's first year, with California and New York, have handed that club to the voters and their candidates: It's the spending, America."
http://online.wsj.com/article/SB10001424052748703444804575071323360304024.html
Reply to this