Democrats Vote Against Spending Restraints

Democrats Vote Against Spending Restraints

Democrats Vote Against Spending Restraints

You don’t have to be a financial genius to understand that, over time, you have to take in more money than you spend.  Otherwise, you spiral downward into debt.  Warren Buffett (an Obama supporter, by the way), clearly understands this, and was able to amass a fortune.  Perhaps not surprisingly, Warren Buffett supports a balanced budget amendment.  And he has a simple proposal to make it work:

Any time there’s a deficit of more than 3% of GDP, all members of Congress become ineligible for reelection.

Sure, this was meant somewhat tongue-in-cheek, but the point is clear: professional politicians vote in their own interests.  Budget deficits are really a hidden tax on future generations – all so politicians can borrow money today to distribute goodies to their favored interest groups, to help themselves get reelected.  In theory, the power of the federal government is meant to be limited.  But over the last 50 years that theory has eroded and been tossed aside.  Politicians view American citizens as their own personal ATM.  Politicians make withdrawals, invest the withdrawals in ways that help their campaigns, and, while putting the screws to the voters who put the politicians in office, justify their actions as business as usual.  Budget deficits have got to stop.

A balanced budget amendment would curb, once and for all, this irresponsibility.  The American people understand and, by and large, support such an amendment.  But it has never happened.  Congress has never voted to have its unlimited ATM card taken away from it.

Kathleen Rice just voted NO on a balanced budget amendment, along with almost all the other Democrats.  Just a little trivia — back in 1995, 72 Democrats voted for a balanced budget amendment, down to 7 Democrats today.  (It’s not who you vote for, it’s who you vote with.  This is your new Democratic Party.)

Critics of a balanced budget amendment argue that politicians are hypocritical because they vote for a balanced budget amendment, while at the same time they vote for policies that drive up the deficit, or fail to pass a budget at all.  Hmm, yeah, that’s kind of the point.  People who are untrustworthy, unless restrained, will act in their own self interest.  The Constitution, as framed, limited the power of Congress to spend.  Those shackles have fallen away, and now Congress feels like it can do whatever it wants.  It should be re-shackled.

Simply: it’s possible to frame a balanced budget amendment in such a way that accounts for disasters and other contingencies like wars, such as setting limits based on recent historic averages.  But let’s be clear.  Deficit spending is, at best, a temporary necessary evil.  The notion that it is an acceptable, economically healthy, permanent feature of our republic, simply cannot stand.

Politicians are slowly destroying the dollar, and putting future generations further and further into debt.  Kathleen Rice sees nothing wrong with that.

In November, we have an opportunity to vote for someone who will fight to cut wasteful spending.  On November 6th, vote Ameer Benno for Congress.