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We have to change an out-of-control congress that spends far too much of our money. To say that congress is spending money like drunken sailors is, well, hugely unfair to drunken sailors.
Right now, our federal government spends 4 billion more, per day, than it takes in. The size of our federal government has more than doubled since the year 2000. Congress spent almost $800 billion on a "stimulus" package that's failed to produce jobs. And our national debt, at $12 trillion dollars and growing, is now about the same size as our nation's GDP. That translates to $40,000 of debt for every single American man, woman and child.
The most recent omnibus spending bill contained over 5,000 congressional earmarks. That's about 10 earmarks per member of congress - demonstrating once again that too many in congress are concerned with their best interests for re-election, rather than the best interests of our country and the American taxpayer.
Congress' non-stop spending binge means that not only are you and I responsible for paying it back, but so are our children, and our grandchildren, and our great grandchildren.
Out of control spending and gargantuan debt also means less money in the private economy. Less money for investment, less money to start and grow a new business, less money for education, for retirement, for your home, for your savings.
Out of control spending and debt also means, inevitably, inflation. As the federal government is forced to print more money in order to monetize our debt, rampant inflation will ensue. If this is allowed to happen, the increased costs of food, medicine, housing, clothing, gas, and education could be devastating.
Unsustainable spending also makes it more difficult for us to do the things we need to do. Our spending and bailouts for those who have the loudest, special interest voices in DC, make it more difficult to help those Americans who, through no fault of their own, need a safety net.
Our spending makes it much more difficult to support and strengthen our system of retirement security. Right now our unfunded liability for Medicare and Social Security is more than 70 trillion dollars - That means we have 70 trillion of guaranteed commitments that at this point we have no way to pay for. The only way we begin to solve this, and fulfill our promise to all generations of Americans, is through spending discipline, budgetary reform, and unprecedented growth in our economy.
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