Letters to the Editor: Will House Republican Leaders Grow A Spine? Part Two
A few weeks ago, President Obama released his vision for federal spending over the next 10 years that will double the National Debt in his first term and if he has his way, triple it by 2020.
He will freeze discretionary spending at the bloated levels that he and the Democrat-controlled Congress put in place last year.
He did nothing to recognize the huge problem of entitlements, nothing to reduce out-of-control spending creating deficit and debt.
He did not even use the plan put forward by his own Debt Commission.
In other words, he has ‘punted’ the problem to be solved by others; this is not leadership.
Mike Pence of Indiana, one of the leaders of the Republican majority, says it is “time to pick a fight” with the democrats and the White House over spending cuts and the future path of America.
I agree with him and eagerly wait for the release of the 2012 budget and the Ryan Roadmap for America’s Future from the Budget Committee Republicans.
It is due for release in the next week or so.
Tax reform is one method toward solvency; we have to have a tax system in place that is fair and funds the proper role of government.
I am a FairTax guy; the FairTax is a consumption tax, that taxes what you spend and you get to keep your entire paycheck.
Others tout a simplified income tax that continues to tax productivity.
The fundamental differences in these two directions are up for debate and one must be chosen so we can move forward.
Entitlement reform has to play a big part in getting the federal spending under control.
While arguable that Social Security is salvageable through reforms that will include means testing and raising the age limit, Medicare and Medicaid are on an unsustainable path and will need major alteration in order to make them solvent.
This is too big a problem to strap to our kids and their kids; we have to face it head on.
If we do nothing, in not too many years, these three entitlements will consume every penny of tax revenue and this does not even consider the impossibly complicated and unconstitutional ObamaCare.
If the Republicans fail to act, or if they cave to the pressure from the democrats and the liberal media, by mid-decade the interest on the national debt will be more than the defense budget.
If this happens, the expense will create a condition where there are no jobs or investments created, no school lunches or food stamps bought, no health care or social security funded.
The only winners are the foreign governments and other people that own our debt.
However, I will offer more on that later.