Saturday, November 6, 2010

The 10 Fiscal Commandments of the Tea Party

One of the movement’s biggest tests may be the debt ceiling. Rand Paul has not ruled out filibustering any efforts to raise the limit on how much money the government can borrow, on which a decision is expected to be made early next year. If Congress fails to pass the legislation, the U.S. won’t be able to make good on its commitments such as bonds. Of course, the Tea Party doesn’t want to be held responsible for the financial catastrophe that experts say would occur if the debt ceiling is not raised. The question is what sort of concessions the movement will want to make and whether the movement’s supporters will keep their faith when political ideology meets economic reality. The ideas espoused by the Tea Party about limited small government and lower taxes were once heard mostly at think tanks and campaign rallies. Many voters, though, probably know little about the movement’s ideas beyond the soundbites reported in the media. 24/7 Wall St. decided to take a closer look at the Tea Party. We reviewed the position papers, public statements and websites of self-described Tea Party candidates. We then determined the party’s 10 key economic ideas which may help shape government policy for years to come. The following are the ten fiscal commandments of the Tea Party...more

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