WaPo: Pawlenty Proposes Economic Plan for Lower Taxes, Less Government

Presidential candidate Tim Pawlenty heads to Chicago today to send President Obama a message: I'm coming at you on the economy, and I'm not playing around. After penning an op-ed in the Chicago Tribune which runs today, Pawlenty follows by delivering his economic plan to the University of Chicago.

Governor Pawlenty's economic plan will reduce the burdens placed on job creators in terms of both taxes and regulation. He will also cut taxes for individuals while eliminating loopholes for special interests. The Pawlenty plan urges a federal spending cap at 18 percent of GDP and the presidential authority to veto spending.  He calls for healthy economic growth at 5 percent.

UPDATE: The NY Times noted that Tim Pawlenty "calls for larger tax and spending cuts than GOP rivals."

Human Events: 10 Outrageous Quotes from Debbie Wasserman Schultz

This morning, the LA Times reports that the economy added only 54,000 jobs in May. This number is far short of the 190,000 new jobs predicted on average by economists. To make matters worse, unemployment ticked up to to 9.1 percent rather than ticking down slightly as predicted. On the heels of several poor economic indicators and a slumping stock market, Americans are hard pressed to wonder what planet DWS calls home.

According to business guru Steve Forbes, the United States may be heading rapidly back toward a gold standard of currency. In an exclusive interview with Human Events, Forbes said, "If the gold standard had been in place in recent years, the value of the U.S. dollar would not have weakened as it has and excessive federal spending would have been curbed. The U.S. used the gold standard of currency valuation until President Nixon removed the country from the Bretton Woods sytem in 1971. Since then, inflation and mounting debt have exerted downward pressure on the Dollar.

Become a Drawnlines Politics insider today.