I pledge to urge my Senators and Member of the House of Representatives to oppose any debt limit increase unless all three of the following conditions have been met:
1. Cut - Substantial cuts in spending that will reduce the deficit next year and thereafter.
2. Cap - Enforceable spending caps that will put federal spending on a path to a balanced budget.
3. Balance - Congressional passage of a Balanced Budget Amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.
Two weeks ago I shared a copy of a letter to the honorable Shelley Moore Capito urging the support of a balanced budget amendment. I feel I should do due diligence and go into more detail about the plan I support. A number of conservative pro-growth and pro fiscal sanity groups have combined to author the above pledge. Let me tell you why I support it and why my unsolicited advice to you is to do the same.
CUT- buzz words in DC right now are balanced approach and shared sacrifice. We can’t just cut spending we must raise revenue as well. What they really mean is that the libs want tax increases now in exchange for phantom cuts later. D… those corporate jet owners anyway! When the real truth is told however, tax cuts and not tax increases spur economic activity and lead to increased gross revenue. A smaller percent paid by a broader base and it has worked every time it was tried. The dirty little secret, the President knows this, in his debate with Hillary April of ’08 he said that capitol gains tax rates should be raised “for the purpose of fairness” despite the fact that such increases have always resulted in less revenue. The truth is you can take every dime of all the wealthiest people in the country including those D…. corporate jets and those accursed yachts and fund the government for…. A COUPLE OF MONTHS! Then you couldn’t do it again, just as when you tax a business out of existence they suddenly produce $0.00 in tax revenue. We call this killing the goose that laid the golden eggs. Cutting spending NOW not promising to do it later is not the best way to lower the deficit it is the only way.
CAP- the only way to keep the politicians hands out of the public fund cookie jar is to padlock the darned thing. Discretionary, defense and entitlement spending must have a ceiling just as the debt does. I like the idea of a specific percent of gross domestic product, say 18% or so, with an allowance for war and defense emergencies. Politicians will spend every dime they can as long as they can rather we have it or not if it helps reelection. Why not? Its not their money why not spend it with abandon? They will unless we the people don’t let them any more.
BALANCE- the constitutional amendment is the only thing that will prevent this cycle from repeating. Can't spend more than you make, can’t raise taxes willy-nilly and a limit on what percent of the nations wealth can be flushed down the bureaucratic toilet in DC! Amending the constitution is difficult and should only be undertaken in extreme situations, but this counts as that. Incumbent can buy reelection by spending the wealth of a generation yet born. I suspect that wasn't in the founders plan, and should be eliminated from ours.
If you agree with me, go to http://cutcapbalancepledge.com/pledge.php and join me in signing the pledge.
Until next time, keep on the firing line.
No comments:
Post a Comment