Republicans and Obama Connive to Increase Debt

Democracy and Power 104: Future Debt Burden

A government debt is a government claim against personal income and private property – an unpaid tax bill. —Hans F. Sennholz

Republicans and Obama Connive to Increase Debt

It’s true; Republican Party leaders are negotiating with our President to break the legally-binding, spending restrains passed in 2011 and signed by President Obama, according to Stephen Moore, economist for FreedomWorks, who just reported it the Wall Street Journal. Moore quotes Senate Majority Leader Mitch McConnell (R-KY):

“We are inevitably going to end up in a negotiation that will crack the Budget Control Act once again,” Senate McConnell said last month. “There’s a lot of pressure in Congress to spend more.”

It’s time to pity our children and grandchildren. Our Republican leadership is joining President Obama to increase spending by reportedly $70 to $100 billion. Worse, they intend to remove the restraints, which will be an additional $1 trillion debt over the next ten years.

Future workers of America, our Republican leadership (Senate and House) are deviously negotiating to harm your future. Increased spending now means higher, future taxes and, most likely, higher prices for goods and services. Nobel Laureate Milton Friedman warned:

“Keep your eye on one thing and one thing only: how much government is spending, because that’s the true tax … If you’re not paying for it in the form of explicit taxes, you’re paying for it indirectly in the form of inflation or in the form of borrowing. The thing you should keep your eye on is what government spends …”

A few fiscally conservative Republicans are stanchly opposed to the treachery of McConnell and establishment Republicans (RINOs). As Moore quotes Rep. Mark Sanford (R-SC), “If we Republicans can’t hold the line on spending—by simply holding Obama to the caps he himself signed into law—everything else around here is an exercise in futility.”

Futility is too mild! Our children’s financial and personal futures are being irreparably harmed. A government debt is a government claim against personal income and private property – an unpaid tax bill. For the sake of our children, we need to stop these negotiations. In 2011, Obama and the House and Senate agreed to the spending limits. Keep the limits. There are hundreds of other means to reduce Federal spending; they involve reducing the power of the Federal government and require Congress and the President to work hard to keep a balanced budget. Sadly, alternatives to cut spending are not being considered.

Make Congress responsible. Americans are justifiably mad at Congress and the President, and it’s time to call your Senators and Members of Congress to stop these negotiations, leave the Budget Control Act in place, and save our children. It’s time to save the greatest country from being destroyed by debt.