The President claims that if the Republicans would only agree to a “balanced approach,” revenue would exceed spending, and in a few short years our physical imbalance would miraculously disappear.

By balanced, the President means he is willing to decrease some future spending if the Republicans will agree to a tax hike. In other words, the President will get additional revenue up front while the Republicans get a promise.

Unfortunately, far too many ordinary people are buying into the President’s fiction that physical balance magically rests with those of higher incomes paying their “fair share.” What, then, would be the result if income taxes are increased as per the President’s plan?

The truth is that increasing all tax rates by 100% for everyone paying income taxes would not solve our physical imbalance. Because – we do not have a revenue problem – we have a spending problem!

For example, during the last four years the national debt ballooned from $10.6 trillion to $16.3 trillion, an increase of 53.7%. According to CNSNews.com, that equates to $49,432.73 per household. Is there any wonder the President wants more revenue?

A good way to understand the national debt is to compare it to an ordinary family. When that family chooses to spend more than it brings in, it has a problem. And unless it changes course, its debt will eventually become unmanageable – it won’t be able to pay its bills and survive.

Is our nation any different? No, just larger!

Congress is about to vote to increase the national debt limit. And if times past are any predictor, they will soon be forced to vote again.

With such irresponsible leaders as we have in Washington, just how much longer can this republic survive?

hit counter
hit counter

Tags: ,

Leave a Reply