Issue Position: Government Spending

Issue Position

Our national Debt is already at $12 TRILLION dollars and Congress wants to increase that limit to nearly $14 TRILLION. Deficits have quadrupled under this Administration and we are facing another $1.9 TRILLION in deficits in the next fiscal year. I will reduce the spending and bring a Balanced Budget Act to prevent the deficits and bring fiscal sanity to government.

When we begin to create a family budget, we first look at our incomes. We are forced to budget the payments for our homes, utilities, car payments, food, clothing, insurance, taxes, and other necessities based on the money we have. We are then able to determine what is left over for those luxuries we often enjoy. When we use credit unwisely, we are forced to cut back our spending and begin paying down our personal debt levels. Our government should be forced to use the same budgetary process rather than use the "base line" budgetary method they presently use.

"Base line" budgeting starts with last years spending levels, increases it based on tax revenue projections (increases), and increases the spending by the same percentages. In years where revenues are down as they are in 2009, no effort is being made to reduce the budget accordingly. This is the very reason we have the massive debt, create the massive deficits, and why Congress is seeking to increase the debt ceiling. Mike finds this unacceptable and immoral for Congress to continue to do this.

Budgetary constraints begins with the REVENUES we take in, and slicing the "pie" according to government needs. Mike believes that sound budgeting begins with setting aside funds to pay down the debt, funds the $105 TRILLION in unfunded liabilities of our entitlements in Social Security, Medicare, and Medicaid, budget soundly for Defense, and then funding any other programs that revenues permit. Any future expansion of government cannot create deficits that create further debt to our nation.

Mike will introduce legislation to force Congress to reform earmark practices. He believes that every earmark made by Congressional members, House and Senate, should be introduced individually, voted on individually by the full members of each body, and not made part of any non-budgetary legislation. Every earmark should be weighed on merit and result in reductions of other budgetary items to equal the amount of any earmark requested. To do otherwise will result in the continual increases in deficit spending and Mike finds the current practices unacceptable in getting our government spending under control.

Our debt has weakened our nations dollar against other currencies and will eventually result in the collapse of our dollar. Massive inflation will result and the dollar will be worthless in purchasing power. The interest payments alone on our current debt is over $200 BILLION today and if current budgetary practices continue, that will increase to over $700 BILLION in 5 years or less. Mike believes that eliminating deficits, paying down the existing debt, and by living within the tax revenues collected, our nation will be strengthened economically.

Mike also believes that the tax reforms proposed with the FairTax will bring about economic growth, reduce the individual tax burden, and increase the predictability of future tax revenues for our government. It will also allow tax revenues to increase as our economy begins to thrive and the "boom-bust" cycles are minimized or eliminated. Economic downturns, which are a natural cycle of our economy, will not lead to the crippling economic crisis we are experiencing today.

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