Fiscal Year 2012 Budget
Senator Paul Balanced Budget Page 3
This budget is not meant to be just a vision for the future, but a starting point to begin the discussion aboutthe proper role of government. It identifies those bureaucracies that are without question outside the scopeof the Constitutional role of the federal government. The challenges ahead of us are daunting, and willlikely require all Americans to participate in the necessary sacrifices to come.It was in 1975 that our country experienced a tipping point.
For the first time in our nation’s history,
entitlement spending surpassed the amount of spending on general government and the programsprescribed to us in the U.S. Constitution, such as national defense, the protection of property rights by theJustice Department and the Judicial Branch, and basic infrastructure needs.In order to preserve and restore the foundations of our country, we will need to begin tackling our largestvulnerabilities, such as entitlements like Medicare and Social Security. While it is imperative to becognizant that many people have planned their futures around such programs, it is necessary to begin toreform and restructure these programs for future generations.Furthermore, we need to return many of the responsibilities of the federal government back to those whohandle them best: the states, local communities, and most importantly, individuals and families. A largefederal government, often governing with the one-shoe-fits-all mentality is not a good government. In hisbook,
Planning for Freedom: Let the Market System Work,
Economist Ludwig Von Mises states,
All thatgood government can do to improve the material well-being of the masses is to establish and to preservean institutional setting in which there is no obstacles to the progressive accumulation of new capital and its
utilization for the improvement of technical methods of production.‖
This budget emphasizes the need to return sovereignty back to the states, empowering individuals,promoting liberty, fixing a broken safety net, and finally, leaving the next generation with a better America.