Saturday, February 20, 2010

Georgia acts to limit government

Whatever else may be said about Mikheil Saakashvili, President of Georgia, he's got guts. Here's what he announced at a dinner on Wednesday:
However, the main function of the evening was for the President to outline plans for one of the most sensible pieces of legislation enacted since the United States' Constitution: The Liberty Act. This seeks to constitutionally enshrine the economic reforms pursued since the Rose revolution, by imposing a strict cap on the remit and size of any future government. Under the Act, government spending is not permitted to exceed 30% of GDP, while the budget deficit is capped at 3% and public debt at 60%. Price controls and state ownership of financial institutions are banned, and no new taxes or increase in tax rates can be imposed without a referendum.

. . . One question in particular elicited a marvelous response. When asked why he was seeking to bind his successors, the President promptly replied, "I don't trust any government, including my own".

(via Michael Labeit!)

If only more of America's politicians had that kind of back-bone!

Hmmm . . . I may have to forward this to all of my elected officials.

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