OAR Blog Post – The Left’s Obsession with Emptying your Wallet, and Enjoying it.
The National Debt, seemingly the elephant in the room that no one really wants to talk about. Both parties are guilty of adding tremendous amounts to it, and not wanting to give up the reins of control on spending that is necessary to right our fiscal ship.
A strong, smart, transparent, and lean government is the best formula for rebuilding our nation’s economy and getting more people back into the workforce.
As it stands today our nation’s debt has topped $18.5 trillion. That is right, you read that correctly, 18 and a half TRILLION dollars, is the debt our nation is in today.
The lion’s share of that debt was created under President Obama. Since being elected in late 2008 the nation’s overall debt has risen from $10.8 trillion to today’s staggering $18.5.
To put that into prospective, our nations gross domestic product, the actual size of our economy, is $17.3 trillion. We all know that if you owe more than you bring in, you are working at a deficit.
In our nation right now, we are playing catch up to pay our bills.
Now is the time for restraint, we must cut our spending and focus on the necessary priorities our government should fund.
This is our money and somehow many in Washington have forgotten that. They vote against balanced budget amendments, they push to overfund programs that may not be necessary – or are duplicitous in nature– and they tell us all the while that it is for our own good.
Much like a parent who has noticed their teenager rampantly spending with the family credit card on frivolous items, it is time to lay down the law and take the card away.
We must tell our federal government to look to the states for answers.
Take Wisconsin for example. Under Governor Scott Walker and the Republican legislature, a state with a $3.6 billion budget deficit went to a surplus of more than a billion dollars in just one gubernatorial election cycle. (Well two if you are in Wisconsin). This ability to tighten the belt and fund necessities rather than pet projects has saved taxpayers money and righted that state’s fiscal ship.
Indiana shows another avenue of how to fix a problematic issue of growing budget deficits by making state agencies become more frugal. Governor Pence asked state agencies to reduce their budgets by 4.5%, and in doing so was able to take a state working in a deficit to one with a $210 million budget surplus, while adding to their $2.14 billion in reserves.
By taking simple and astute actions that actually look at the bottom line and curb excessive spending, many Republican led states have made the shifts necessary to get spending under control and help the taxpayers receive some relief.
Democrats, both nationally and in the states, must learn to take their hands out of our wallets and to live within their means.
Republican governors have shown that it can be done; it is time for others to take notice and follow along.