Friday, December 21, 2012

A permanent solution to our fiscal problems

Every family, sooner or later, has to learn, sometimes the hard way, to limit their spending to the amount of their family income.

Spending reductions are the only way to solve our $16 trillion problem.  As a nation, Congress and the President must limit their spending to the amount of money that this country actually takes in.

Former U.S. Congressman Joe Walsh, who was serving the 8th Congressional District of Illinois until he was beaten for re-election in the fall of 2012, says the same thing, and he wants to add a very sensible amendment onto the U.S. Constitution, one that would require Congress to balance the budget every year.

Every single year.

On the Issues page (Joe Walsh) on the issue of a balanced budget. (Dated June 2012, when he was still a member of Congress)

An article dated July 16, 2011 in the Daily Caller, saying that Joe Walsh is right and that the GOP leadership, who are opposed to a balanced budget are wrong.  He's right.  The GOP leadership WAS wrong to allow this president and many others to spend more money than the United States earns from taxes and other revenue sources.

Joe Walsh was endorsed in his re-election campaign by Red State.  This is a link to the endorsement article dated October 9, 2012.

Understanding the issue

Congress cannot pass any law that violates the Constitution, or any of its' amendments.  That is why no President, no matter how much political power he wants, and no matter how much political power he thinks he has, can tell any American to give up his freedom of speech, his freedom of religion, or his gun.

Once this amendment is passed, Congress will have to submit balanced budgets every year.  That means that the only thing that is added to the national debt will be a tiny percentage interest, and with responsible leadership in the White House and Congress, this can actually be reduced.

With a fixed and unchanging debt limit our government will, sooner or later, learn to spend only what it needs to spend.

Without a fixed debt limit, Congress and the President can and will continue to spend money that we simply do not have.  If we do not control our spending, we may even lose the ability to borrow more of it at reasonably low interest rates.  Every person who has credit problems and has watched rising interest rates on his credit cards knows what happens next.  Either he pays the bills or the interest rates keep going up.  The international market will do the same to our government if they don't pay the current bills and reduce the spending in the future.

It is time for a new amendment to our Constitution.  It is time to teach our government the meaning of the word "discipline".  Our $16 trillion national debt is proof that they do not practice it.

The Balanced Budget Amendment on the website of the Republican Party.

Part of that page:
Since President Obama took office the national debt has increased by $3.7 trillion. To put that in perspective, it took the U.S. 216 years, from 1776 until 1992, to accumulate the same amount of debt that Obama has borrowed in 2.5 years.

It's higher than any time in American history, equaling more than 95% of our entire economy. We are currently borrowing roughly 40 cents of every dollar we spend and sending the bill to our children and grandchildren. 

Roll up your sleeves.  Contact your Member of Congress and your Senator.   You're about to start taking classes in a new course, "Lobbying 101".