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Published Tuesday, September 7, 2010
Posted by: Mike Delph on Saturday, September 18, 2010 at 11:28:41 am
Posted by: Mike Delph on Friday, September 10, 2010 at 5:28:28 am
National Spending Revolt came to Indianapolis over the Labor Day weekend. I was invited to participate in a panel discussion broadcast nationally via the web. WXNT Radio Talk Show Host, Abdul Hakim Shabazz, moderated and we took questions from the live audience and from callers. My basic message was simple. Our Founding Fathers cared about future generations, our posterity. Do we? Just consider the numbers that Revolt discussed and one can easily understand how this is simply not sustainable:
Indianapolis, IN – New data from the U.S. Department of Labor show that 48 of 50 U.S. states are still losing jobs, while the federal government continues to spend at a rate of nearly $400 million an hour. In response to this looming crisis, the new Spending Revolt coalition – made up of taxpayers, families, business owners, and policy organizations – is working to educate citizens about how mounting federal spending is jeopardizing America’s future, and engage them in taking action against this reckless spending.
The federal government is currently spending $112,000 every second. This amounts to $67 million in the 10 minutes needed to take a shower and more than $1 billion in the 162 minutes that the average American spends watching television each day. The national debt has ballooned to more than $13 trillion, and America’s debt is now projected to surpass GDP by 2012 – placing the U.S. closer to the crushing debt load that has engulfed Greece.
“America faces a severe spending crisis that is rapidly bankrupting our nation,” said a coalition statement. “Current spending levels are unsustainable, irresponsible, and negligent – and show that Washington is failing in its responsibility to safeguard the people’s resources. We need real, permanent, and immediate spending reform in Washington to protect the economic security of all Americans. We will fight for the taxpayers of Indiana and across America to stop this reckless spending.”
Posted by: Mike Delph on Friday, September 10, 2010 at 5:15:24 am
The Indiana Fiscal Policy Institute has suggested Indiana needs to raise taxes to balance its budget. My response is simple. No! Government needs to live within its and our means. We are in the worst economy that I can recall. Raising taxes will only slow our economic recovery. John Maynard Keynes was a very influential economist that promoted the idea that government can borrow and spend itself out of economic recession. This is a failed philosophy in my view, but it nevertheless still haunts us all from his grave. If we need to make up a budget gap, it will have to be first through spending cuts. This is what most Hoosier households have to do when faced with similar circumstances. We call it Hoosier Common Sense!