STEPHEN MOORE: All You Need Is Growth.

As sure as the cuckoo clock chimes at midnight, the left is bloviating that Donald Trump’s tax plan will blow a $5 trillion hole in the deficit. Many of the people complaining loudest were in the Obama administration and helped preside over a $9 trillion tidal wave of new debt. Now they are fiscally chaste. Sure.

They maintain that a tax cut has to be paid for by corresponding tax increases on someone else. But raising taxes on Paul to pay for a tax cut for Peter negates the positive effects of the tax reduction. This also incites powerful interest-group opposition to the tax bill and makes it less likely that it will happen — which is exactly why the left is insisting on revenue neutrality. They want to torpedo the tax cut.

Steve Forbes, Larry Kudlow, Arthur Laffer and I recently signed a statement urging President Trump to drop revenue neutrality because it is a trap. We called for a net tax cut, and implored him to make the cut immediately. Kudos to Trump for getting this right.

Repeat after me: Washington has a spending problem, not a revenue problem.