A government debt is a government claim against personal income and private property – an unpaid tax bill. – Hans F. Sennholz
Federal politicians – Democrats and Republicans – have willfully and recklessly created an enormous and dangerous debt. Politicians cannot be trusted to be prudent and honest stewards of America’s finances.
America’s debt is at least $14.3 trillion. President Obama’s 2012 budget intends to increase the debt to $15.7 trillion in 2021. The President and Congress must be stopped. A coalition of libertarian and conservative groups are demanding Cut, Cap and Balance.
Cut: The deficit must be cut immediately. Latest year’s deficit was $1.6 trillion. It must be cut by 50% this year.
Cap: Federal spending must be capped at 18% of GDP – the historical rate.
Balance Budget Amendment: Congress and the President must balance the budget, with the exception of emergencies.
In the Wall Street Journal, a former Member of Congress and a former state politician politely stated why these additional restraints must be installed – simply, politicians can’t be trusted:
Republicans in the Bush years and Democrats in the Obama years have proven that we cannot trust them when it comes to spending.
… they (Cut, Cap Balance) prevent irresponsible presidents and legislators from finding new ways to spend money that we don’t have for things we don’t need.
Bluntly, Democrats and Republicans have endangered America by recklessly and dishonestly burdening working Americans and future generations with an unpaid tax bill.
The consequences of failing to raise the debt ceiling is nil compared to the immoral burdens and economic stagnations the politicians are perpetrating upon working Americans and our children and grandchildren.
Cut, Cap, and Balance will restrict politicians and Americans will again prosper and thrive. Cut, Cap and Balance will save and enhance freedom and democracy.
FreedomWorks Letter to Congress in Support of Fiscal Commision Act (H.R. 5779)