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Why Elect People Who
Aren't Fiscally Responsibile?

[The Budget Deal]

November 9, 2015

Last month the House and Senate passed a budget deal.  It was Speaker Boehner’s last official act and the measure passed 266 to 167.  Only 79 Republicans supported it while those opposing the measure were all Republicans. 

The measure increases the spending cap by $80 Billion while completely throwing out the limit on our national debt for 17 months.  Why 17 months?  It’s because doing so avoids a possible government shutdown until after the 2016 elections. 

The fear-tactics used by those who supported the measure included telling the elderly their Social Security and Medicare payments would cease and that the U.S. would default on its obligations, etc. 

But each month the U.S. treasury takes in revenues and this year it has taken in a record number of taxpayer dollars.  It would be a simple matter to prioritize spending for those expenditures deemed critical such as interest payments on the national debt, military pay, social security retirement payments, Medicare payments and the like.  But more importantly it should be the goal of both the Congress and the Administration to start making cuts in programs that are not critical – cuts that may need to be phased in; but not just reducing spending increases in these programs.

But alas, it seems that too many people in Washington are more willing to continue spending beyond our means than tightening our fiscal belts and doing what is right for the country.

Let’s put this debt issue into perspective for you.  
- Taylor Swift – who earned $80 million from 55 concerts last year – would need to perform every day for three years just to pay one day’s interest on the our national debt. 
- Floyd Mayweather – the highest paid athlete who earned an estimated $300 million last year in two fights – would need to fight every day for 331 years in order to pay off the current $18.1 Trillion national debt. 
- And we would need 229 more Bill Gates – the wealthiest person in the world with a net worth of $79.2 billion – putting all their wealth toward paying off the debt.

And yet, the moderate Republicans and Democrats in Washington have no problem with adding more and more to the debt. 

The people who put this measure together were outgoing Speaker Boehner, Minority Leader Pelosi, Senate Majority Leader McConnell and Senator Harry  Reid, while Paul Ryan (R-Wis.) voted in favor of the deal.  The bill throws out  the sequester spending caps – the only real restraint that kept the Congressional appetite for spending in check.  Under the provisions of this measure there is unlimited borrowing authority with no corresponding mandated cuts in spending.

So what was gained by this proposal?  No government shutdown.  No limit on government borrowing. An increase in spending for domestic and military programs.  The question we need to ask ourselves is it is worth the price?

In our view, if our country is to survive; unfettered spending clearly has to stop.  So we need to start electing people who are fiscally responsible!

Bill, John and Mark


 

 

 

 

 

 

 

 

 

 

 

 

 

 


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