The philosophy of the Tea Party movement can be summed up in the proposition that the federal government should stop racking up massive debt, and should do so by cutting spending. This view is routinely denounced by Democratic Party politicians and journalists as extreme; outrageous; radical. They trot out various “experts” to support this view.
In fact, however, the Tea Party’s perspective is precisely the one that is supported by most economists, as CNBC reports:
The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.
The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases.
In fact, it is the belief of the Obama administration and Congressional Democrats that it is perfectly fine to rack up $4 trillion in new debt in three years that is extreme, outrageous and radical. It is the Tea Party whose economic views are mainstream.