Monday, July 25, 2011
By David S. Addington, Heritage
It’s hard to understand why President Obama took to the airwaves tonight at prime time. He still has no plan for dealing with government overspending and overborrowing, and he gave the nation very little except a repetition of his never-ending call for tax hikes.
In noting the risk of ever-increasing debt, President Obama said every family knows that “a little credit card debt is manageable.” The government has racked up $14.294 trillion in debt — thought of by no-one as a little credit card debt. The spend-tax-and-borrow crowd, currently headed by President Obama, has been in charge in Washington too long. They have mortgaged the futures of our children and grandchildren. Our government is so deep in debt that the share of debt of a baby born today is $45,000.
It is time for the spend-tax-and-borrow crowd to stop. As the President indicated, conservatives want deep spending cuts. In contrast, President Obama wants more taxes, a terrible idea. First, the government already takes too much money from the pockets of Americans in taxes. Second, if Americans give the government more money in taxes, the government will just find ways to spend it, rather than using it to pay off the public debt. Third, raising taxes reduces investment, which cuts economic growth and kills jobs.
Americans sent a message in the election of 2010 — cut the size and cost of government. Conservatives must act now to drive down spending on the way to a balanced budget, while protecting America, and without raising taxes. Forget the McConnell, McConnell-Reid, Coburn, Gang-of-Six, Boehner, and Reid plans. Go with the American plan — cut government spending, deeply and right now, for the good of the country.