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Debt, Budget and Economy of the United States: What’s the deal?

Updated on April 17, 2011

 

Could someone please explain to me why the Politicians in Washington always want more and more of our hard earned dollars, only to spend even more?

President Obama recently released his 2012 budget to Congress.  At $3.7 trillion, it is projected that this budget will increase the US deficit by $1.65 trillion in 2012 alone (a new record by the way).  While the President’s budget does trim spending in a few small areas, it includes massive increases in other areas, as well as some big tax increases.  (Also, a little note to Mr. Obama:  My 10 year old son figured out that calling something an “investment” just means more spending, so I don’t think you are fooling anyone.)  Some of the spending increases are offset by tax increases (the budget assumes the expiration of the tax rates enacted during the Bush administration), but mostly we have more debt spending.  The President justifies it by paining a rosy picture of economic growth, making the case that we will grow the economy out of debt.  Apparently the fact that no economists (except maybe those who work for him) feel his rate of economic growth is possible is not a problem for him.

For all of my criticism of the President, I can’t say that many of the Republicans in Congress, save the new Tea Party members, are much better.  They had trouble putting together $100 billion spending cuts.  Multiply those cuts by sixteen times and we will almost balance the budget (but not tackle the debt).  Of course, the cuts they are proposing focus mainly on programs that tend to be the democrat’s pet projects.  Which, of course has most democrats screaming bloody murder, not to mention the Tea Party candidates who were elected on a wave of discontent over big government, massive spending and massive debt.  (To give credit where credit is due, I must point out that Kentucky Senator Rand Paul has proposed $500 billion in spending cuts for 2011 alone, which he refers to as a start.  Unfortunately, he is in the minority in Washington.)

Over 200 years ago, Thomas Jefferson spoke these words at his first inauguration: 

“….a wise a frugal Government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned.  This is the sum of good government, and this is necessary to close the circle of our felicities.” 

Where are the politicians with these kinds of values?  These are the values our country was founded on; shouldn’t we seek to continue these values? 

I propose that we, as a nation, need to look inward toward ourselves and once again decide what government ought to be.  The debt crisis we currently face is really an effect of what government has become.    Our country was founded on the principals of allowing the citizens pursue their dreams without the government taking the fruits of their labor.  The citizenry should be allowed to succeed or fail on their own without help or interference from the government.  Do we return to those values?  Or do we want a government that tries to be all things to all people?  Do we continue on our path toward the Nanny State, with cradle to grave government intervention in our lives?  Do we continue to be the world police?  Should government regulate every aspect of our lives and business until we can’t blow our nose without filling out an application?

Speaking for myself, I want the government envisioned by Jefferson, not Obama and the Washington politicians.  To quote Jefferson “That government is best which governs the least, because its people discipline themselves.”  I want hands-off policies; I want the opportunity to fail or succeed on my own.  If I fail, I do not want to be bail out; I will clean up the mess on my own.  And I do not want to hand over the fruits of my labor to some Washington politician to spend.  I believe that I can manage the money far better.

 

I have written this as the introduction to a series of articles.   The focus of the articles:  to explain my proposal as to both par back our national debt and to revive our failing economy.  Please check back often to check out the upcoming articles.

Broke: The Plan to Restore Our Trust, Truth and Treasure
Broke: The Plan to Restore Our Trust, Truth and Treasure

If you would like a bit more information on United States debt and economy, check out the Glen Beck book "Broke". Even if you are not a fan of Beck, the book is a must read if you are interesteed in the changing attituded about debt in the US.

 

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    • MikeNV profile image

      MikeNV 

      7 years ago from Henderson, NV

      The entire system is controlled by Bankers. Our money supply is intentionally manipulated to create these problems. If you look at the National Debt you realize that Tax Revenue is not nor will it ever be enough to pay for the massive spending programs. This in return requires borrowing at unprecedented levels.

      There is a very easy way to return the power and assets to the people.

      1. Eliminate the Central Banks

      2. Require the dollar to be backed by precious metals

      3. Mandate a Balanced Budget by law

      So why all the infighting over cutting a few billion here or there? Because getting the people all worked up one against the other Republican against Democrat DISTRACTS from the real issue. And that is letting a group of Private Bankers control the assets.

      There are roughly 110 Central Banks in the World. These Banks are all Private. They are all owned by the Same People. They manipulate all the Worlds Citizens on behalf of the true ruling elite.

      That's it. This will automatically redistribute wealth to the people who earn it.

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