regulatory reform

Following Europe Will Lead To Collapse

In the Eurozone Spain is bracing for yet another round of painful austerity as a result of its unsustainable debt. These cuts will cripple entitlement programs that people built lives around, they will cause a spike in unemployment, and put the national security of its people at risk. This is the path big government takes you down; ballooning debt, then a crash where the bottom is not discernable.

Then why does this administration feel that the best way to fix our problems at home is to follow the same path that Europe has? Our budget deficit continues to balloon with no signs of stopping or slowing down. Historically when a nation’s debt reaches 90% as a share of GDP, economies will stagnate. Currently we are at 70% and will hit 90% in under 10 years.

This is unacceptable and can be avoided by adopting the Contract for America’s terms to pass a balanced budget amendment. This amendment will ensure spending does not accelerate at the rate it currently is and spending growth will be capped as a percentage of GDP.

Until this amendment is passed, politicians will continue to tax and spend faster and faster. When money is not coming physically out of their pockets they see no reason they can’t spend it. American government deficit spending needs to stop immediately.

$1,200 Per Family In New Taxes

On Wednesday the Associated Press reported that over 6 million uninsured people will get hit by a tax penalty as a result of Obamacare. This tax penalty works out to about an average of about $1,200 per family in 2016. Even more concerning is that this tax will hit mostly middle class households.

Obamacare is flawed legislation based on a flawed premise. Although it was well documented that the main complaint about health care was the cost and addressing the problem, the government instead got involved and created a massive federal entitlement program that is hurting those it should be helping.

Citizens all over the country have spoken out for the repeal of Obamacare by voting to include it as a main pillar of the Contract From America. Wednesday’s findings simply add more evidence to the core argument that Obamacare is financially unsustainable, does not address the main problem of private healthcare, and makes more people dependent of the government.

If we want to return to fiscal responsible governing we must repeal Obamacare and replace it with a plan that works and we can afford so our children don’t spend their whole lives paying for it.