Honourable Evan Bayh;

Like you, we are deeply concerned about long-run budget deficits and the continued economic recession. Like you, we want a policy prescription that will address deficits and the recession at the same time.

We are however, dismayed by your expressed hesitation to support efforts at letting the Bush tax cuts expire, especially those tax cuts given as gifts to some of America’s highest income earners. In fact, the tax cuts that are set to expire present to us all a unique opportunity to simultaneously address two issues: the recession and deficits.

The only realistic way out of deficit spending in the long-run is through a growing economy. This is a fact both conservative and liberal economists universally recognize. Yet, as a stimulus plan the Bush tax cuts are comparatively ineffective. In fact, according to the CBO, extending Bush tax cuts results in a mere ten to forty cent growth in GDP for every dollar spent, largely because top earners are far less likely to spend tax relief compared to middle and lower income earners. The CBO also finds eleven other stimulus plans that produce better returns on our investment – about three times better versus the Bush tax cuts.

The question for you is this: Are you truly concerned about the fate of the U.S. economy and its people? Will you vote for prescribing the most effective medicine for dealing with the deficit and the recession? Show you love for the USA and its people by helping let the Bush tax cuts for wealthy Americans expire!