Comments on the President's Budget

Melissa Haluszczak, Candidate for the U. S. Congress in PA-14^th District, comments on the President’s budget.

Despite recent rhetoric about fiscal responsibility, the President’s budget more than doubles the debt, drives spending to new record of $3.8 trillion in FY 2011, pushes the deficit to a new record of $1.6 trillion in FY 2010, and raises taxes by over $2 trillion through 2020 by the Administration’s own estimates.

This budget should be declared “dead on arrival.” There is no way we can spend ourselves to prosperity. Everyone seems to understand that except the President and the incumbent Congressman.

It is absurd to borrow 42 cents for every dollar spent in 2010. Unsustainable deficits in the federal budget threaten our national security, economic growth, and the future of our children. Excessive spending results from (1) the belief that that governments, not people, are best able to solve problems and (2) an excessive appetite for power.

It is hard not to conclude that this spending boom is an effort to put in place programs and spending commitments that will require vast new tax increases and give the political elite a claim on more of our earnings and wealth. Long-standing discretionary spending requiring annual appropriations are being converted to entitlement programs. As a share of the economy, federal spending will reach over 25%. America’s private economy is under attack. Our money is being transferred to the public sector and our freedoms along with it.

Limitations on itemized deductions, increases in the capital gains tax rate, repealing the Bush income tax rates, taxes on oil and gas, and numerous changes to the business accounting rules are planned and will raise taxes on all Americans.

At the end of the day the Obama plan is more government and less private enterprise. Since government does not produce wealth, but rather redistributes it, the economic vitality of our nation will be in jeopardy and will result in reduced jobs and opportunities for our citizens – just as occurred in Japan and Europe. This will set the stage for a weak and elusive recovery and more than likely will increase attacks on the private sector.

A common sense budget would move our country in a much different direction. For starters, the remaining TARP and stimulus funds should both be rescinded. Next, spending should be frozen until the deficit is reduced to zero. Finally taxes that punish investment and job creation must be reduced.