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Thursday, March 22, 2012

Gov. Daniels: Faster Economic Growth ‘Indispensable’

Faster economic growth is absolutely indispensable to spur the degree of debt reduction America sorely needs, Indiana Gov. Mitch Daniels (R) said yesterday at the ABA Government Relations Summit.

Daniels, who had a governor-to-governor conversation with ABA President and CEO Frank Keating, a former two-term governor of Oklahoma, expressed his alarm about the country’s current condition and economic direction.

Daniels explained that the country has “a pile of debts that no prudent banker would love,” and no enterprise can succeed at such debt levels.
If this economy does not grow at a much more rapid rate we cannot make the equation work.
Daniels said that all possible steps that might foster faster private-sector growth should be taken.
Break all [policy] ties, and call all close ones in favor of growth until further notice … [and] hit the pause button [on regulation] for a few years. We’re certainly not under-regulated in this country.

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