Restore Fiscal Conservatism and End the Bailouts to Reduce the Size of Government
We've got to get control of federal spending, which has added significantly to our national debt over the last 12 months. Both Republicans and Democrats are responsible, but together, we must be the solution for future generations who will inherit this massive legacy of debt. We need to enact a balanced budget amendment, cut spending and root out well known and documented waste in entitlement programs like Medicare and Medicaid, to the tune of tens of billions of dollars every single year.
Wall Street and auto bailouts have rewarded failure and set a new expectation that taxpayers will always be a safety net for high-risk gambles. I oppose that philosophy, and recognize that Congress must enact important regulatory reform to prevent big banks and investment firms from having the ability to again bring our financial system to its knees. The TARP bailout money currently being repaid by the banks must go directly to paying down the hundreds of billions of dollars in debt taxpayers incurred to save them, and not used for new government spending or programs.
Finally, Congress must have leaders willing to oppose the current earmark process, and provide for a system that embraces competitive bidding for local projects based on merit, not on political clout. Such a process would significantly reduce the number of wasteful projects and corruption.