Mr Dan Mitchell from the Center for Freedom & Prosperity offers the following examples of ‘how limiting government spending’ , or ‘limiting the growth of government spending’ result in increased wealth and prosperity for the entire nation.
Video number 1, lessons learned from Presidents Reagan and Clinton.
Video number 2, lessons learned from other nations.
To put Mr. Mitchell’s examples in the simplest terms. We do not need tax increases. We need fiscal sanity and government spending restraints. You cannot increase spending by 48%, as we have since 2008, when the GDP is crawling along at 2% or less. Tax increases will only result in increased government spending and reduced government revenues. Failure to rein in the deficit spending will result in financial ruin and bankrupt our nation.
In other words, you cannot spend your way out of debt as our current President would have you believe. That is simple economics 101.
When we are looking at a 1.6 Trillion dollar deficit placed upon a 14 Trillion dollar debt, it is hard to imagine that there is ‘sanity’ in government when the best either side can do is offer 65 Billion dollars in cuts. They wasted a Trillion dollar Stimulus and have increased total spending by 48% since 2007. This is money that mostly went into the pockets of Unions, Socialist entities and Wall Street fat cats. Main Street America has seen very little, if any, of that money. Can we expect anything different in this bloated 1.6 Trillion dollar deficit plan they are offering now?
It is time for both sides to get busy, cut (not trim) spending, reduce the size and duplications of government, cut loose the public unions and special interests, stop funding stupidity & political entities, defund the UN and the international organizations that work against us, and finally go after the corrupt people and organizations that have obtained our tax dollars through dishonest means, punish them, and get our stolen money back.
Again, a 65 Billion dollar cut to a bloated 1.6 Trillion dollar deficit spending plan is bullcrap. After all their promises, our elected officials seem to believe that they can fool us with what amounts to a rounding error. They simply are not trying hard enough. If they were serious they would start with the 2007 budget plan and make cuts from there.
We cannot afford another Trillion dollar deficit on top of the 14 Trillion dollar debt that we have now. As anyone who has ever owned a credit card knows, the interest payment alone will take a larger portion of our wealth than we can create in order to pay down the balance.
Go back to work and do it right this time elected officials. Honesty in government should not be an oxymoron.
If things do not change soon I have a feeling we will be singing this once again in 2012.
I had to add the following due to comments received 🙂