Dear Fellow Conservative,
I am sure you are closely watching the debt-ceiling debate going on in Washington right now. Earlier this month I voted for, and the House of Representatives passed, the Cut, Cap, and Balance Act. I still believe this is the most sensible solution to our fiscal crisis and the best shot at changing Washington, as we know it. However, President Obama and the Democrat-controlled Senate have shown they are not serious about cutting the debt and want to continue down a reckless path with their policies of tax, spend and borrow.
If the President and Congress are serious about reining in our national debt and putting America back on a sound economic footing for the future, we need to take the first step in changing the tax, spend and borrow culture that has plagued Washington, D.C.
First, we need to cut federal spending significantly and immediately. Republicans have offered a plan that would cut $917 billion over the next ten years. During the debate over raising the debt ceiling, President Obama and the Democrats have demanded tax increases and long-term increases that get us past the 2012 election without any guarantee of more cuts. We need spending cuts now, not more of the shell games the Democrats are playing.
Second, we need to cap federal spending so it matches incoming revenues. Looking back at our economic history, the government has taken in roughly 18% of annual U.S. GDP in taxes. Yet today, we are spending at a rate of roughly 24% of GDP. If nothing is done, in just ten years, 95% of our taxes will be used to pay the interest on our debt and fund unsustainable entitlement programs. Capping spending in the only way to ensure we meet our obligations with existing revenue.
Finally, we need to balance the budget by passing a Balanced Budget Amendment to the United States Constitution. The Balanced Budget Amendment is the key piece of our plan because it forces Congress and the Administration to balance the budget. There would be no more gimmicks, no more “emergency spending” that isn’t paid for, and no more threats of huge taxes increases to pay for wasteful programs.
The debt ceiling has been increased 69 times since 1940. Enough is enough – let’s stop the spending now!
Several so-called alternate “plans” have recently emerged in the Senate in case a compromise isn’t reached before the U.S. Treasury Department’s arbitrary August 2 deadline. Unfortunately, these measures are late to the game, rely heavily on tax increases and promises of future reductions, and in the end, aren’t really plans at all. House Republicans are the only ones to have offered a solid, definitive plan to reduce the deficit: cut government spending now, cap spending in the future, and balance the budget.
The media has argued frequently that House Republicans need to compromise. We have. That compromise is moving this week in the House. It is the only deficit reduction plan that has been offered, that is clearly defined, and that will reduce government spending.
Because of what is happening in Washington, I need your help to continue to fight for us and provide the leadership that Obama, Pelosi and Reid have not.
Sincerely,
Jeff Miller