Washington politicians have put us on an unsustainable spending path that threatens to bankrupt our nation.
Federal spending has more than doubled since Sherrod Brown came to Washington in 1993. Spending as a percentage of Gross Domestic Product (GDP) increased from 21.4% to 24.1% during those same two decades. Over the past three years under Obama/Brown, federal spending has skyrocketed to a higher percentage of GDP than at any point since World War II.
To save our country from bankruptcy, we must change Washington's irresponsible spending habits. We need to elect leaders with the guts to say NO to the status quo and NO to the special interests that fuel the spending fire.
Washington politicians of both parties spend too much. The budget has only been balanced 5 times in the past 50 years. President George W. Bush and Congressional Republicans passed the first $2 trillion budget in FY 2002, while President Bush and Congressional Democrats passed the first $3 trillion budget a few years later.
The $787 billion Obama/Brown stimulus failed to keep unemployment under 8% as was promised and cost taxpayers between $185,000 and $278,000 per job "created or saved". If that is Washington's idea of a bargain, it is easy to understand how they have managed to put our country on a path toward bankruptcy.
Common Sense Solutions
Cut spending back to FY 2009 levels. Congress must immediately reduce discretionary spending by $93 billion in FY 2013 to get on a path toward a balanced budget.
Freeze non-defense discretionary spending. With fiscal discipline and a growing economy, we can balance the federal budget in less than 10 years without further cuts.
Enact a statutory spending limit. With a hard spending cap of 20% of GDP, Washington politicians would finally need begin making the tough choices needed to get our finances under control.
End taxpayer-funded Wall Street bailouts. Washington politicians should not have the power to use our tax dollars to pick winners and losers on Wall Street.