published Wednesday, July 20th, 2011

A way to balance U.S. budget

What is the primary responsibility of our representatives and senators in Congress? It surely is to provide for our national security. If our country is at war, Congress must provide whatever it takes to win.

But in times of relative peace, Congress has lots of options about spending and taxing. So shouldn't we expect our lawmakers to provide balanced budgets?

We know we have to pay taxes for the essentials. But why must federal spending so vastly exceed already-high tax revenue to pay for lots of other things, too?

As a result of past wartime necessities and excessive peacetime spending, the United States has accumulated $14.3 trillion in debt.

Just the interest we pay annually on that debt is more than 13 times the size of the entire budget of the state of Tennessee this year. Much of that money is pulled unproductively out of our economy and sent to hostile foreign investors such as Communist China, which owns a chunk of our debt.

Since we obviously are spending too much, don't you believe it would be reasonable, and financially responsible, for us to adopt an amendment to the Constitution to require a balanced budget, with appropriate exceptions for times when our nation faces grave national security threats or other true emergencies?

Republicans in the House of Representatives would like to see a balanced-budget amendment as a long-term way to get a handle on our nation's finances. They insist that is the only means to avoid more unnecessary spending, year after year. And can anyone rationally claim that they are wrong, when we consider the catastrophic size of our current debt? Is it remotely sensible to suggest, as the president and many Democrats in Congress do, that there should be even more federal spending and "investment"?

Regrettably, any balanced-budget amendment passed now or in the near future in the House of Representatives is sure to be killed in the Democrat-run Senate -- because it would put the brakes on the runaway social and other spending that Democrats favor. But shouldn't we insist on full congressional approval of a balanced-budget amendment, in the national interest?

After all, it should be plain to everyone by now that barring such an amendment, majorities in Congress and some presidents are unlikely to limit their spending.

We can either embrace real limits on that spending, or we can expect more federal waste, higher taxes, rising unemployment and a stagnant economy.

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nucanuck said...

Maybe we need an all new seperate War and Security Tax that rises and falls with military expendatures. Homeland security, the CIA, smart bombs, drones, mercenaries, military aid for other countries, aircraft carriers, NATO, wars ,wars, and wars...all covered by a single new tax.

Now that would be a tax that militant Americans could embrace.

July 20, 2011 at 12:41 a.m.
EaTn said...

Did your representative vote for the House bill passage on reducing the debt on the backs of our middle class and seniors in favor of keeping the tax breaks for the rich and big corporations?

July 20, 2011 at 7:01 a.m.
Livn4life said...

Maybe we need a cafeteria plan on all the unnecessary social spending which does not benefit all. Then, thoughtful tax-payers would not be paying the way of persons who could and should be making their own way. I am not opposed to helping persons truly in need but it has been proven over and over again our current programs are inept in this regard and it seems to be getting worse. But no, we attack the military and that which, as the Constitution indicates, keeps the nation safe. But no, we keep on spending and spending money we do not have for empowerment. One day it will be impossible to raise the debt ceiling because debt will be all we have. Then it will be interesting to see what our leaders will do when we can no longer pay them and their little projects for re-election which keeps the debt climbing and climbing. Our federal government has become a point of reference for ridiculous and outlandish spending. No one can seem to reign them in either. But what do many do? They blame Republicans or former conservatives. Right now, there is more Democrat influence driving the economic bus closer and closer to the cliff's edge. Who wants to believe and admit that?

July 20, 2011 at 10:45 a.m.
hambone said...

EaTn, to answer your question, yes. On top of that day before yesterday I received a mailer from him telling me how he voted on select issues. Next to that a questionare asking if I support or oppose the same issues. He has already voted and then sends out a mailer asking taxpayers opinion. WHAT A PIECE OF WORK.

July 20, 2011 at 11:09 a.m.
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