This issue is a perfect place for the new Republican majority to make its arrival felt. by Mark Vogl
(conservative)
Thursday, January 6, 2011
The issue of raising the debt ceiling for federal spending is the absolute perfect battle ground for the newly elected Republican majority in the House of Representatives.
One of the most important reasons the American economy has not recovered is because of all the doubt. When companies and investors don't what the taxes will be, or the regulations, or the trade policies, etc., they are hesitant to invest money. And another great question is what will the American dollar be worth? As the government continues to spend on the credit card it is undeniably a major factor in investment decisions.
The debt ceiling is important for the reasons above.
But, it is also more important because should the debt be controlled, or reversed, spending and policy designwould haveto be reshaped to fit within the revenues plus available debt.
But to make this work, managers in the governing of the United States have to have a personal stake. Therefore employees of Congress, the Senate and the Executive branch must be penalized iftheir bosses fail to reverse course.
For these reasons the House GOP need to lay out a simple, clear, easily understood series of financial guidelines. I will provide some examples here.
1. Until the national debt begins a down ward trajectory no bill:
a. will include earmarks,
b. will address more than one issue.
c. will raise the pay of Congress, its staff, or Executive branch appointees.
d. will include any new program or policy. ( A moratorium on all new programs.) This would include Obamacare.
2. No additional spending forforeign subsidies.
3.Annual 10% reduction in Presidential and Congressional travel.
4. A model for decreased spending to be enacted over the next ten years. No new taxes, no new revenue sources. It is spending that is out of control, not taxing.
5. No action on the debt ceiling until real spending cuts are made.
There is going to be pain. No doubt. It could have been less pain if we had acted earler. It will be more pain each day we wait.
The House is in a position to change the direction of the nation. This is the issue where they can begin that process.. .
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Posted By: Don Goins
Date: January 6, 2011 10:21:49 AM
I couldn't agree more about tackling our huge spending. I like the idea that's been kicked around of taking spending back to 2008 levels, but I don't think the majority of conservatives really understand what that means. Defense spending would be cut in half and that is okay by me.
Where the problem comes in is the fact that the GOP is going to use the debt ceiling as a hostage. It's like holding your finger on a nuclear bomb and saying you better do this or we'll destroy it all. That would be Mutually Assured Destruction as the world economies collapse. As the largest economy, the US keeps everything in order. Without that stability, well, it's a really scary thought.
