On Government Spending: More Party of 'No,' Please
Just what part of "we don't have the money" do they not understand?
The parade of liberal lawmakers and far-left pundits is tiresome -- all of their protestations about GOP cuts deserve only one response, that which is evident to almost everyone else: "We don't have the money."
But women need abortion clinics funded by taxpayers ... we don't have the money. But medical costs continue to skyrocket and the poor will suffer ... we don't have the money. Children will suffer under draconian Republican cuts ... we don't have the money. To a liberal only one solution is acceptable: just tax the people more. Might I offer a suggestion? Stop spending money we don't have.
You shall not spend more than you receive in taxes. I thought this was a simple concept for avoiding debt, until the 111th Congress -- with the help of two presidents -- more than doubled it.
Numbers are easy. You can add and you can subtract, or in government's case, you may multiply. Our debt has been in an out-of-control spiral for over a decade. According to treasurydirect.gov, when President Bush took office the national debt sat at about $5.6 trillion. Oh, how I long for those days! At the end of his presidency the national debt was $10.02 trillion -- Mr. Bush added roughly $4.5 trillion on his watch. The first bill that Mr. Bush vetoed was a stem cell funding bill in 2006 -- five years into his presidency.
Whereas many conservatives certainly applauded that move, perhaps he should have used the ol' veto pen on a few spending bills before his sixth year in office! At that point the conservative base already viewed the GOP as Democrat-lite -- if President Bush had vetoed some more spending, he might have spared the Republicans huge losses in the '06 midterms.
In Obama's first two years in office the debt grew to $14.2 trillion. Mr. Obama has added roughly $4.2 trillion to the national debt.
Some left-wing folks herald Mr. Obama as the smartest man to ever occupy the White House. I don't know about that. He is an overachiever. He managed to grow the national debt nearly as much as Bush did in two years, rather than eight. Though putting this at the feet of Obama exclusively is unfair -- after all, Congress controls the purse strings. And who was in charge of the House for two years of the Bush presidency and all of Obama's until last month? Under Nancy Pelosi's tenure as the third most powerful person in the world, she oversaw a $5.5 trillion increase to our national debt.
I think we've outlined, quite clearly, our nation's problem. Our government is spending more money than it takes in taxes. I believe now more than ever the American people want this practice to stop.
The top wage earners see 35% of every dollar they earn go to the feds. Depending on the state they reside in, an additional 10-25% goes to state and local taxes. I don't think the case can be made that the productive people are not taxed enough -- 60% going to the government should be enough for any liberal. But it isn't! Liberals still cry for tax increases. Our corporate tax rate is due to become the highest in the world, making it impossible to compete in the world market.
The top 50% of wage earners pay 97% of the tax load, and nearly half the country doesn't pay federal income taxes at all. The top 1% pays nearly 40% of the nation's tax bill. Yet liberals want more! The danger, of course, is killing the goose that lays the golden eggs. If government continues to bleed our entrepreneurs and job creators dry, then our tax base will shrink, and there will be less money in the treasury. There's only one effective way to cut our deficit.