Fundamental Cause of National Debt - Out-of-Control Spending
January 14, 2013
"Since May House Republicans have acted in good faith to generate ideas to avert the fiscal cliff. Our balanced proposals have been designed to protect American jobs and begin the hard work of overcoming America's debt crisis. Thus, I could not in good conscience vote for a Senate "deal" that delays savings while expanding spending subsidies, ignoring the real drivers of debt, and using harmful new taxes as justification for government growth.
"The process of resolving the fiscal cliff has been ugly. The Senate received H.R. 8 from the House of Representatives on August 1 of 2012. But the Senators waited until December 31 to weigh in on the legislation. The proposal they finalized in the early hours of January 1, though deeply flawed, does clear up uncertainty for families and small businesses trying to prepare for the future. I am glad for that, but feel for the many job creators who will face a higher tax burden in yet another year of tepid economic recovery.
"Regardless of the complexity of any manufactured Washington crisis, I will continue to be guided by principle. As a defender of taxpayers, I hold the United States government to a standard of spending your hard-earned money minimally and wisely. That means new government spending must be off-set.
"Washington rhetoric cannot mask the fact that the country's debt crisis and consequent fiscal cliff are symptoms of the larger problem of uncontrollable government spending. 2012 yielded the third highest annual tax revenue in American history. Sadly, government spending was just as historic. Unless spending is reined in and trillion dollar deficits become a thing of the past, no level of tax increases will solve the problem.
"Rather than fixating on Clinton-era tax rates, the President and Senate Democrats would better serve the country working to shrink the federal government to a Clinton-era size. America's catastrophic national debt demands it. The debt clock is ticking."
2013.01.02 - WXII, NBC 12