There seems to be general agreement that America’s financial situation is a mess.
Look at our annual federal budget deficits. We are spending well in excess of $1 trillion a year beyond what burdensome tax rates are taking in! Should we continue doing that?
What about the total national debt? It is $13.7 trillion – to which we are adding every day!
Just paying the interest on the growing national debt is costing American taxpayers more than $400 billion a year!
Do you believe these figures indicate responsible federal government leadership by the president and a majority in Congress?
What do you think the effects of all this are on our nation’s economy and our people’s employment – and the future of our children and our country?
Most people do not really want to come to grips with the problem. It’s just too scary. But Congress soon is going to be engaged in a painful – and sometimes irresponsible – debate about all of this.
There will be proposals to raise already excessive taxes on some, with negative rather than constructive effects. There will be some talk of spending cuts, too. But ultimately, it is all too likely that the president and Congress will try to dodge the problem.
It should be clear that we are not taxing too little, but that the president and lawmakers are approving too much spending. After all, even in times of very high tax revenue, spending goes up more. And much of the excess spending is for things that are unconstitutional!
What would happen if the president, all members of Congress and all taxpayers just read the Constitution of the United States – and then agreed to abide strictly by it, to tax and spend only for those things that are in accordance with the Constitution?
That would make a huge difference in federal spending, federal debt and federal taxing of our people. And it would have enormous benefits for our economy.
Unfortunately, most of our federal officials are not about to do that. Instead, they will insist on continuing high spending, and they will seek to raise taxes on “somebody else,” with the result of continuing irresponsible federal finance – passing the multi-trillion-dollar burden on to our children and grandchildren.
We have allowed Washington, over many years, to put us all into a terrible hole. Before it caves in on us, shouldn’t we stop digging?