I am often asked at conferences and in casual conversation what I think is the most important thing that any citizen, business or trade association can ask of those asking for their vote or political support.
In response, I often quote the brief reminder note that former Clinton political strategist James Carville famously gave to his candidate, Bill Clinton, in the run-up to the 1992 Presidential election.
“It’s the economy, stupid.”
I may not agree on all policy matters with Mr. Carville, but he was right about this, and the contents of his note are as true today as ever.
In North American democracies, the economy, and the taxes that the economy can support pay for every single public good. Every safety net, every farm support program, roads, schools, etc., etc…. have as their source of support – the economy.
Even for those public goods that receive private AND public support – the economy must provide that too.
Policies that help facilitate a strong economy must be the number one priority, or as I used to refer to it when I was in government, the North Star of any government that wants to leave things better than they found them.
Is your political priority lower taxes? Do you want more infrastructure spending than is currently happening in your jurisdiction? A growing economy is going to be needed to support that spending within a fiscally probative and long-term plan. A growing economy will help avoid deficit financing to achieve this.
Do you want more education support? Well, given budget constraint, the surest way to be able to afford increased education spending is – you guessed it – a growing economy and the increased tax revenue (without tax rate hikes) that comes with it.
In North American democracies, the economy, and the taxes that the economy can support pay for every single public good. Every safety net, every farm support program, roads, schools, etc., etc…. have as their source of support – the economy.
All of this seems quite obvious, perhaps. Surely, North American governments are focused on the economy first. Are they?
Culture wars, identity politics and the program spending that is the reverse end of an economy-first approach seems to be dominating government and political priorities on all sides of the spectrum.
Sure, we have specific industry-related issues we need to continue to bring forward to regulators and governments. But as individuals, we can advocate for the common sense of an economy-first approach to all levels of government and policy. NAEDA is uniquely positioned with its very effective government relations and engagement program at the local, state, provincial and federal levels to help remind legislators of this basic fact.
We can remind candidates and sitting politicians of Carville’s message to his candidate. During my last weeks in office, while the party was selecting a new leader, I asked for a sign to be installed above the door to the cabinet room that we exited after each meeting. It asked then and still asks, “Did you leave
things better than you found them?”
It is an interesting exercise to think about the answer to that question every now and then. When I do, and when I can answer in the affirmative it is usually because of some action or decision we took in government that cost money. Taxpayers’ money that was available and proffered on the strength of a growing economy.
“It’s the economy, stupid.”
Article Written by Brad Wall
BRAD WALL was the 14th Premier of Saskatchewan. He is the Principal of Flying W Consulting,
a partner in the CW Cattle Co. Ltd, and serves on various private, public, and non-profit boards.
He is an advisor to the North American Equipment Dealers Association and moderated a panel
discussion at the NADC conference in Nashville, TN, November 15-17, 2022.
