E-Newsletter No. 51 _____ March 2018
We were originally going use this month’s newsletter to discuss the cost/benefit analysis that every person performs each day, when they decide whether they should get out of bed and go to work. However, we are deferring that newsletter, and will instead use this month’s newsletter to give you another update on our federal government’s lack of fiscal responsibility.
As you are probably aware, the federal government was shut down last month for about 7 hours in the wee morning hours of Friday, February 9th. However, through the heroic efforts of our elected officials in Washington DC, this latest government shut-down was cut short by Congress when they passed legislation that will add over $400 billion to the federal government’s credit card balance. By passing this legislation, our elected officials put each citizen – every man, woman and child – on the hook for over $1,000 each. Every dollar that is added to the federal government’s debt represents one additional dollar of future taxes that will need to be paid by our country’s citizens.
And that’s not the worst aspect of last month’s legislation – – the real travesty is that the bill only funded the federal government though March 23rd, so we are going to have yet another last-minute fire drill later this month.
Here are some of the quotes regarding this latest act of fiscal irresponsibility –
Senator Rand Paul – – “I ran for office because I was very critical of President Obama’s trillion-dollar deficits. Now we have Republicans hand in hand with Democrats offering us trillion-dollar deficits. I can’t in honesty look the other way.” [ He voted No ].
Rep. John Yarmuth – – “We’re not going to get DACA as part of this. So, if we can negotiate a deal like I think we’ve gotten, that essentially meets every other one of our priorities, then I think that’s where a lot of the Democrats are.” [ He voted Yes ].
Senator Jeff Flake – – “I love bipartisanship… But the problem is the only time we discover bipartisanship is when we spend more money.” [He voted No ].
Maya MacGuineas (the president of the Committee for a Responsible Federal Budget) – – “No one voting for this bill can claim to care about the debt and deficits – in fact, it is fiscal malpractice. Congress just ordered everything on the menu (and then some) and then sent the bill over to the kids’ table.”
And…. from the Foundation to Promote Personal Responsibility – – “This is not only fiscal malpractice, the federal government’s growing debt problem and its effect on future generations is immoral.”
Our Editorial Board believes that the time has come for 34 states to come forward and call a Convention of States to propose amendments to the US Constitution that would impose fiscal restraints on the federal government, limit the power and jurisdiction of the federal government, and limit the terms of office for its officials and for members of Congress.
US Debt Clock – – February 1st – $63,044 per citizen / March 1st – $63,450