Tuesday, February 07, 2006

Bush's Budget illustrates the LARGEST danger to our children and nation

The largest danger my children face is the growing Federal deficit and the out of control spending the Republicans have created in Washington.

The Federal Budget was 2.472 Trillion dollars last year. Bush's proposed Budget this year is 2.77 Trillion dollars. This is an increase of about 12%. Realize that some of the spending for 2005 and 2006 is not even included in The Federal budget numbers for this year or last year; notably some of the funding for our operations in Iraq and some of the bloated overspending The Federal government is doing in the Gulf Coast region.

Inflation is projected to be about 3%, yet Bush is proposing we grow government at FOUR TIMES that rate. The Republicans can no longer call themselves small government conservatives. They are social conservatives who believe in growing government faster then The Democrats they replaced...

What is equally disturbing is the election year squalling coming from both the Dems and Reps. Our elected officials will almost certainly spend MORE then Bush is proposing. That is shameful.

If you believe some of the liberal media outlets you would be led to believe that Bush's budget will kill poor people. That is just not true.

Tax rates are going to rise dramatically in the next few years. Taxes will have to rise so that we can pay for the mistakes our elected officials are making.

I hope that some of our local Republicans will post some comments on this issue!

They cannot be happy...

Fiscal Conservatives have to come to The Libertarian Party; the Republicans do not want you!


Doug said...

It was fiscal conservatism that began my straying leftward, fwiw. I voted against the Republicans in '92 to vote for Perot because of the deficits. I voted for him again in '96 just because I couldn't bring myself to vote for Dole or a Democrat. Then in '98 the whole impeachment debacle began and I had more fundamental constitutional issues with the Republicans.

I have always liked the libertarians and will vote for them in local races where I like the candidate, but for national offices, we're condemned to the two party option for the foreseeable future.

Republican presidents have not presided over a balanced budget in more than 30 years. I think there was a year or two during the Nixon administration. There is always an excuse, but at some point, it's not an accident, it's policy.

At least during the Clinton years, there were a few years where the budget was balanced (almost -- they counted the Social Security surplus in the general fund). So, at least Democratic presidencies can manage a somewhat balanced budget -- even if it's arguably by accident.

A Christian Prophet said...

You might be interested... a message directly from the Holy Spirit today on the Christian Prophecy blog addresses this and says that government will someday be funded totally voluntarily without taxation. This seems like a strong selling point.

Mike Kole said...

It isn't merely at the federal level that Republicans are unwilling to cut spending. Look at our state as well.

Lawmakers know that property taxes are enormously unpopular, so they want to cut property taxes. But because they are unwilling to spend so much, they are conceding other ways to make up the revenues cut by property tax cuts, including possibly adding municipal income taxes.

If you want to kill core cities, add a municipal income tax. It drives people of means quickly to the suburbs.

The GOP has the tools for cutting budgets, with majorities in both houses and at the executive branch- both here in Indiana and at the federal level. They merely lack the will to cut.

This is why fiscal conservatives must vote Libertarian: If they continue to give the GOP their votes without getting the results they want, they send the message to the GOP that it is a-ok to keep taking fiscal conservatives for granted.

William Larsen said...

We hear a lot of talk about cutting the deficit in half. In fact they have talked about it as far back as I can remember. I am 49 years old and I simply cannot remember a surplus year, can you? Who has been running this country, the politicians or the voters? I hear people complain, but do we ever take action?

There are two sets of books our politicians like to keep. They are the General and Unified budgets. The Unified Budget includes every government expense while the general budget excludes social security and Medicare. Social Security has its own dedicated tax, which by law cannot be used to pay for anything but Social Security costs, United States Code Title 42, Chapter7, Subchapter VII, Sec. 911 (a). Social Security can buy US Treasuries just like you or I, but the money must be repaid. Currently the Social Security Trust fund owns $1.6 Trillion in Special US Treasuries, which is included in the $8 Trillion National debt.

Politicians like to use the Unified Budget because they can show a lower deficit number. For example in 2004 Bush and our Representatives passed a Unified Budget resulting in a $553.6 billion deficit. The problem is they included Social Security and Medicare taxes as well as the interest their trust funds earned, which are dedicated to paying Social Security and Medicare costs, not general budget items. If you exclude these dedicated tax revenues and interest payments on these trust funds, the General Budget deficit was $726.1 Billion. Who wants to report bad news to those you represent? We might not vote for them in the next election. Then again, maybe it us, we simply do not want to hear the bad news.

In 2005 we had Katrina and now we have the Rx Medicare drug program. The deficit this year is going to be what, $800 Billion? Interest on the Debt in 2005 was over $450 Billion or 40 cents of every dollar you pay in Federal Income Taxes. In 1952 only 16 cents went to pay interest on the debt.

The problem is, they could eliminate the unified budget deficit and we would still have a very large general budget deficit. Its time we laid off these fuzzy math politicians for our sakes as well as our children. Can anyone just say no to two more years?

If you want real change, I ask for your support this May 2,2006.


Best regards,

William Larsen
Republican Candidate for Indiana's 3rd US Representative seat

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