National Debt

Currently, our government has borrowed so much money that paying the interest and paying off the debt threatens to enslave our children and may very well destroy our country.

Let’s run the government like you run your family. You spend only what you've got, you incur only a level of debt you can afford without impacting your ability to pay for basics (like food & clothing) and you save for a future expense (like college), for a rainy day and retirement.

Interest on our debt is now the fastest growing component of our expenditures. Our debt is higher (% GDP) than during WWII. Discretionary spending (stuff we control, including defense) is less than 1/3 of the total.

This is like a family having a flock of maxed out credits cards whose minimum payments make it hard to pay the rent.

Ms. Pingree does not talk about this threat to our Country and she has no plan to solve it. I do.

  1. Before we can pay down debt, we have to get to balanced annual spending. The Heritage Foundation’s Blueprint for Balance lists 116 programs for elimination or curtailment. That’s a solid start.
  2. I support zero-based budgeting: no automatic program extensions; spending plans to be annually reviewed; mandatory re-approval required by Congress.
  3. Cut taxes! This has always stimulated business activity and increased government revenues at the same time. Kennedy and Reagan did it.
  4. Cut regulation! In 2015, Obama had added 81,000 pages to the Federal Register, including  3,378 final rules, 2,334 proposed rules, 29 executive orders and 31 executive memorandums. They are strangling us! Did you know the EU regulates the acceptable curvature of bananas? No wonder Britain wanted out!

 

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