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BUDGET

BUDGET

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Published by teapartypatriots
BUDGET
America’s federal government does not balance its budget. It taxes more than taxpayers have to give, and it spends more than the government has taxed. Politicians of all stripes have made America the brokest nation in world history, putting the American people on the hook for $61 trillion in present and future spending, which equals $535,000 per American household. The consequences are: a longstruggling American economy, millions of jobs lost, and future generations saddled with debt.

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BUDGET
America’s federal government does not balance its budget. It taxes more than taxpayers have to give, and it spends more than the government has taxed. Politicians of all stripes have made America the brokest nation in world history, putting the American people on the hook for $61 trillion in present and future spending, which equals $535,000 per American household. The consequences are: a longstruggling American economy, millions of jobs lost, and future generations saddled with debt.

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Published by: teapartypatriots on Sep 27, 2011
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 America’s federal government does not balance its budget. It taxesmore than taxpayers have to give, and it spends more than thegovernment has taxed. Politicians of all stripes have made Americathe brokest nation in world history, putting the American people on thehook for $61 trillion in present and future spending, which equals$535,000 per American household. The consequences are: a long-struggling American economy, millions of jobs lost, and futuregenerations saddled with debt.
KEY POINTS
 The Senate has a legal obligation to pass a budget everyyear but has not done so for more than two years.In that time, an unbudgeted and unrestrained governmenthas overspent America to the brink of financial collapse,resulting in America’s credit rating being downgraded for thefirst time – ever – on August 5, 2011.When governments fail to balance their budgets, they saddletaxpayers with debt and deficits, which taxpayers must pay,which takes money out of the productive economy, which inturn hurts our economy, which in turn kills jobs – which iswhere America finds itself now.It’s time for government to live within its means. Like thePeople must do.Government should stop overspending. Governmentoverspending is why government feels the need to over-borrow and overtax.Government should stop overtaxing. If government does notoverreach its powers, it will not need to overspend, andtherefore it will not need to overtax to pay for it all.Government should stop over-borrowing. A government thatlives within its means will not have to borrow at all.
BUDGET
 Tea Party Patriots on
 
“We don’t want to cut all spending. Just theoverspending.” “It’s time for the government to live within our means.” 
Q: WHAT WOULD YOU CUT?
BACKGROUND
THE PROBLEM
 The growth in the size and scope of the federal budget is aunifying frustration among the majority of Americantaxpayers. Over the past decade, as a result of historicallyirresponsible overspending, the federal budget balloonedfrom $1.9 trillion in 2001 to more than $3.8 trillion today –and total unfunded obligations for future governmentspending equals $61 trillion, or $535,000 per Americanhousehold.How much is 1 trillion? To pay back 1 million dollars, at arate of 1 dollar per second, would take 11 ½ days. To payback 1 billion dollars, at a rate of 1 dollar per second, wouldtake 32 years. To pay back 1 trillion dollars, at a rate of 1dollar per second, would take 32,000 years.
 
Out of control government spending harms the US economyand the American people. Massive federal deficits resultingfrom overspending has left the United States taxpayers withthe largest debt in the history of the world. That debt canonly be paid by taxpayers. This takes money from theproductive economy – which could have been put to workstarting businesses, buying equipment or financinginvestments – and transfers it to the government, where itgets wasted by wasteful politicians.
 
When government grows faster than taxpayers’ ability topay for it, the result is a loss of personal freedom sincegovernment takes away taxpayers’ ability to decide how tobest spend their hard-earned money.
POSSIBLE SOLUTIONS FOR DISCUSSION
(NOTRECOMMENDATIONS OR ENDORSEMENTS BY THE TEA PARTYPATRIOTS)
Limit Spending
One straightforward approach to ensuring the federal budgetdoes not grow faster than taxpayers’ ability to pay for it is byimplementing one or more spending limits. A reasonablespending limit could allow the federal government to meetits constitutional duties without allowing Congress to embarkon uncontrolled spending binges that compromise theAmerican economy, swamp future generations with stiflingdebt and unjustifiably raid taxpayers’ wallets.Examples of spending limits that could lead to reasonablefiscal discipline include:
A Balanced Budget Amendment – Originally devised in the1930s as a way to limit the size of the federal debt, abalanced budget amendment would alter the U.S.Constitution to require that the federal government spend nomore than its revenue. As a result, deficit spending wouldbecome largely forbidden except in rare cases war ornational emergency.
 The Gramm-Rudman-Hollings Act – Named for its Senatesponsors, this 1985 legislation forced Congress toautomatically cut certain discretionary spending in thefederal budget if a series of deficit-reduction targets werenot reached.
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