Will House Republican Leaders Grow A Spine?
Along with the FY 2011 budget just passed, and the 2012 federal budget battle under way, the debt limit squabble will heat up in the next few weeks. This will cause a scrap; but here again the House Republicans must stand tall and firm, and demand fiscal responsibility in return for a small increase in the debt limit.
There have to be real cuts in discretionary spending and entitlements, significant tax and regulatory reforms, and a way to control future growth.
Attaching any increase in debt to the Balanced Budget Amendment or the FairTax legislation would be a good start. We must encourage our elected representatives to vote no without major steps toward reform.
Most observers recognize that there is need for one last increase in the debt limit. This has to be the final time though; considering the debt of over $14 trillion dollars divided by the 2010 Census equals over $46,000. If you recalculate that to just the 52 percent of Americans that actually support the government, the amount taxpayers owe comes closer to $89,000. Do you have that laying around?
Along with the out-of-control debt, comes the interest paid out to the holders of the debt, which topped $400 billion in 2010 (that comes to about $2,400 per taxpayer).
This expense is mandatory and has nowhere to go but up! By mid-decade, this expense is expected to be in the $600-700 billion range. Both unsustainable and unfair, it is the children and unborn generations who will have to pay for our irresponsibility.
To control the voracious appetite of the federal government, the Balanced Budget Amendment, co-sponsored by all 47 Republican senators, is necessary. With enough Democrat support, a BBA would be on its way to the States for a quick ratification. In order to defeat this crushing deficit and debt, the economy must expand and revenues must increase. To make this happen, we have to have major reforms to tax collection (can anyone say “FairTax”?) and the stifling regulations that are strangling business.
Addressing the big three entitlement programs — Social Security, Medicare and Medicaid — is critical if we are going to give a financially solvent America to our posterity.
If we refuse to recognize and do something serious about this enormous and disastrous problem, we will be the first Americans to give the next generation a weaker country.
They do not deserve to be strapped to an unforgivable debt that this generation because of the entitlement mentality of many Americans today.
The day is come; the time is now. We have to encourage our elected servants to have the courage to make the hard choices, do the right thing and end the era of big government spending. Contact them today!
The clock is ticking …
Bill Carson, Midlothian