From the Hill: “Yet no one has figured out the more positive corollary – how to harness the immensely valuable political space the Tea Party and Occupy movements have each created to help the economy and create jobs. There is reason to believe whoever captures this terrain will be the decisive political force on the economy in Washington for years to come.
The GOP and Tea Party contend that cutting government spending will help the economy in the short- and long-run. Whatever the merits of this argument, the emphasis on debt reduction has created political cover for many in Congress to support small changes in entitlements, which can accrue huge budgetary savings over time. These savings will go a long way toward reducing the debt, as leading bipartisan proposals by Simpson-Bowles and the Bipartisan Policy Center’s Domenici-Rivlin have shown.
Meanwhile, Democrats and the Occupy movement believe that dealing with income inequality is the key to economic growth. Again, merits aside, the Occupy movement has convinced many Americans that the decline of the middle class is corrosive to our national strength, and must also be addressed, in part by raising taxes on the wealthy, and by using revenue to invest in economic growth.”
Equating the impact of the TEA Party to that of the Occupy Movement — highly questionable!