Monday, November 10, 2008

Returning to Prominence (Cont'd)

Point two on returning the Republican Party to prominence, requires that the party as a whole returns to its roots of fiscal responsibility. There is absolutely no doubt that after the '94 elections, the Republicans in Congress became drunk on their own wasteful spending.

You cannot stand for one thing and do something else and not expect the public and especially the press to take notice. It is a simple philosophy, so simple it smacks of grade school intellect; you only spend what you have! You do not increase spending when you do not have the money. Now, when faced with a 300 or in the case of 2008, a 455 billion decifit, you have backed yourself into a corner.

Make no mistake this is not just a Republican problem, members on both sides of the isle are drunk with spending, earmarks, and projects that are designed only to gain votes for reelection. The American public and voters at large expect that their money will be properly managed; at least they did at one point in time, I doubt at this stage with the excess we have seen in the past 16 years they are going to easily trust anyone.


The problem now is manifesting itself even more so with the 700 billion bailout of Wall Street and others to the point that it will take no less than a decade to get ourselves out of this mess. You can expect the decifit under Obama to increase substantially, unless the Republicans, especially in the Senate unite behind this principle - No increase in spending without a legitimate source from which to fund it. Period.

With the economy in a contraction state at the moment, it is imperative that Congress manage this situation delicately and eliminate all new increases in spending.

That means NONE, not a single one, not without a funding source. Pretty simple, if you do not have the money, you do not spend it.

My plan is even simpler. A complete hiring freeze in Washington for 4 years. For 24 months no increases in spending. The second 24 months spending increases is limited to 1/2 the rate of inflation. Year 5-8 Spending increases is limited to the rate of inflation.

In addition, we streamline the Department of Homeland Security, and eliminate the Department of Education.

Basic, straight forward approach that will eliminate the deficit within 10 years without requiring a single tax increase.

Speaking of taxes, well, I will save that for another day.....

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