Deficit Decline

Jack Kemp writes at Townhall.com that the professional Chicken Littles are dead wrong about worries that a 413 billion dollar FY2004 deficit is 3.5% of an 11.7 trillion dollar GDP. He quotes JFK that "an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget." Lower tax rates, free trade, less regulation, tort reform, and entitlement reform are the right policies to spur long-term growth. The indefatigable Kemp is, well, indefatigable.