Posts Tagged → deficit spending
From beautiful Homer Glen I am writing my take to an email sent to me by Mark kirk. Mark Kirk, like the freshman congressman openly stands for fiscal conservatism putting aside his vote for Cap and Trade, which he now understands was wrong. When I read his email I become very insecure with how this will affect my future and the people in Homer Glen, Lockport, New Lenox, etc. http://www.examiner.com/will-county-libertarian-in-chicago/obama-gets-to-spend-trillions-more The U.S. had a cash budget deficit last year of $1.3 trillion, but once you include increases to unfunded liabilities, our real budget deficit was approximately $5 trillion. Even if Americans were taxed 100% of their income it wouldn’t be enough to balance the budget. No wonder S & P lowered our ratting from AAA to AA+.
Kirk said he voted to support the Budget Control Act because it begins our effort to control federal spending to protect our economic future. “We should have cut more. Because the federal government borrows 40 cents of every dollar it spends, Congress should have cut at least $4 trillion from our future spending and borrowing. That is why I supported the Bipartisan Deficit Reduction Comission Report and the “Gang-of-Six” effort to cut trillions more from federal spending. http://www.examiner.com/will-county-libertarian-in-chicago/progressive-and-gang-of-6-want-to-restructure-america-lies-and-mis-truths Unfortunately, fiscal conservatives control only one third of the government. The Senate and White House are still run by fiscal liberals. Given the leaders we currently have in the Executive Branch and Senate, the Budget Control Act provides the best cuts in spending we could get”. http://www.examiner.com/will-county-libertarian-in-chicago/senator-kirk-and-the-debt-ceiling-compromise
I think S&Ps reason for downgrading the U.S. debt rating at this time is because, “the differences between political parties have proven to be extraordinarily difficult to bridge”. The reality is, the Republicans and Democrats aren’t far apart at all. Neither parties are serious about cutting spending. http://www.examiner.com/will-county-libertarian-in-chicago/joe-walsh-is-right
Thank you, President Obama with your socialist agenda that will never work. We needed to pass the balanced budget amendment and stop spending more than we take in. I heard no talk of spending on only very necessary items to start with. Instead of talking about stopping all Foreign aid, we heard of not getting social security checks out in time. Instead of stopping payments to all illegal immigrants, we heard the military may not get paid. The American People are sick of helping everyone in the world at the demise of the American citizen.
Senator Kirk went on to explain the bill, which I fee is a threat to the economic well-being of our Country. I feel no matter what happened the credit rating was going down. I disagree with the compromise, but understand how the Senator rationalized his support.
* Cuts $900 billion over ten years from planned spending by the regular part of the government that spends about one in three taxpayer dollars,
* Cuts a further $1.5 trillion from automatic spending (entitlement programs) that spend two-thirds of taxpayer dollars through legislation written by a bipartisan Joint House-Senate Committee with powers to ensure up or down votes in the House and Senate. Should this bill fail, more automatic spending reductions would ensure that the promised savings will be realized.
* Requires that the Balanced Budget Amendment to the Constitution will be voted on without further delay this fall by the House and Senate. If approved, this amendment needs no signature by the President before going to the States. If 3/4 of States approve, the Constitution is amended.
* Allows the President to request a $900 billion increase to the debt limit following the passage of the bill, and another $1.5 trillion once the $1.5 trillion reduction to automatic spending reforms is submitted to Congress or the Balanced Budget Amendment to the Constitution is sent to the states.
The Budget Control Act will prevent American default, ensuring the prompt fulfillment of our commitments to Social Security beneficiaries, veterans and Medicare patients. While only a first step, it will increase the transparency, performance and results we should demand from America’s government. By cutting spending and only allowing debt increases of equal amounts, this bill avoids an immediate crisis and sets the precedent of reforming and reducing automatic spending by the federal government.
If you have any further questions or comments, please feel free to contact me online at kirk.senate.gov or call Mark Kirk at (312) 886-3506.
From Beautiful Homer Glen, I just finished reading an email from Louisiana Governor Bobby Jindal. He is angry at the stupidity coming from our elected people in Washington. It is a small world when it comes to how Homer Glen is affected the sane as a faraway State like Louisiana when it comes to waste, spending, and debt forced on an unwilling people. Read more on Will County Examiner article http://www.examiner.com/will-county-libertarian-in-chicago/bobby-jindal-gets-it People who produce are not willing to accept the idiotic notion that we should borrow money to give to people, governments, and programs that will never pay it back and demand more. It is nice to be charitable but stupid to borrow money to do it. http://www.examiner.com/will-county-libertarian-in-chicago/don-t-laugh-at-sentelli What on earth is Obama thinking? I know he believes in the socialist model, but the man can’t be walking with his eyes closed. The Progressives are even worse, going along with this foolishness, they are simply afraid of braking rank with their President and doing what is right. Some Republicans are in that mix and should be even more ashamed, because we sent then to do a job and they are failing us. If those people in Washington did their family budget like they do the countries, they would be trying to collect food stamps, free medical and other government programs which they would not qualify for because they make too much money. They would be asked why they earn 1,000,000 plus per year and only have increasing credit card balances to show for it.
Beautiful Homer Glen is a conservative municipality, and home to the Homer Lockport Tea Party and Homer Township Republican Organization. The last election people from our groups worked for Adam Kinzinger and Joe Walsh in their successful elections to the House of Representatives. Our Homer people like others that worked to elect people to the House that would not fund Obamacare, and cut all expenditures of the Federal Government. These freshman Congressmen should be standing firm to what we sent them to do, cut, cut, and defund Healthcare. Instead they are afraid of the media saying they failed by shutting down the Government. I tell each Congressman, “You failed to do what we sent you there to do if you continue to not defund Healthcare, and make substantial cuts in our budget that is negative Trillions. You control the purse strings. Only you can say how and what we spend our money for. http://www.examiner.com/will-county-libertarian-in-chicago/cut-the-debt-cieling
It is very simple logic, which is hard for Liberals to understand. Money was spent that we did not have and never should have been approved. We are 14 Trillion in the hole, and still looking to spend.
From beautiful Homer Glen, while eating at the Purple Onion, I could not help but over hear some people next to me in a heated argument about the Republican and Democrat views. It seems that there were people from both groups in the discussion of the debt ceiling. I started to think that the parties have morphed into something different from 50 years ago. They all seemed to agree on cutting spending, but the debt ceiling was an issue. http://www.examiner.com/will-county-libertarian-in-chicago/debt-ceiling-politics http://www.myfoxchicago.com/dpp/news/metro/steve-balich-mark-witte-discuss-possible-debt-ceiling-20110602