The Federal Government is on an Unstable Path 

After passing cap and trade legislation, which is likely to be the largest tax increase in American history, President Obama and some in Congress are now pushing a $1.5 trillion health care plan that I believe will raise taxes, ration care, and let government bureaucrats make decisions that I feel should be made by you and your doctors.  The White House has said this health care reform is “key to our fiscal future.”  I think every American would agree that more taxes, more spending, and more government intervention is not the answer.

Last week, Doug Elmendorf, Director of the nonpartisan Congressional Budget Office (CBO) said, “Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run. Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. … Over time, accumulating debt would cause substantial harm to the economy.”

The United States is facing an urgent financial crisis that threatens our fiscal and economic stability.  Our government is currently borrowing about 50 cents for every dollar we spend. Medicare is already paying out more in benefits than it collects in taxes and Social Security is expected to do the same in less than five years.

The individual share of this year's deficit for every American is $3,500 - by the fall that share will approach $6,000. The national debt currently stands at $11.5 trillion, costing every American $37,600. The total unfunded liabilities for the United States are $60.6 trillion, which exceeds the total net worth of America. Paying off this liability would require every American to write a check to the Treasury Department for $198,000.

As a staunch fiscal conservative, I have opposed these spending increases regardless of who was in the Oval Office. I voted against $2.3 trillion under the Bush Administration and have voted against bills costing over $2.5 trillion this year. We must put a stop to the spending spree in Washington. The best way to stimulate the economy is to cut taxes and spending drastically. It is time to start trusting and empowering individual Americans instead of the federal government. It is time to let Americans keep more of what they earn and for the government to spend less. By taking these steps, our economy will experience the growth and prosperity that have defined America for generations.