Congressmen Ron Paul, one of the few good guys left in office, offers his take on the federal debt in this piece.
After adjusting for the new debt limit, our national debt jumped $107 billion last week. It has risen $538 billion in the last year alone.
The spending problem is deeply rooted in Washington bureaucratic culture, and no administration is immune. The President can set the tone for fiscal restraint or fiscal indulgence, but ultimately Congress controls the purse strings though the appropriations process. One thing the President can do, however, is refuse to sign spending bills or debt limit increases. When neither Congress nor the administration is capable of fiscal self-control, the taxpayer is always the loser. How do you feel knowing the federal government just wrote itself a trillion dollar loan using your labor as collateral?
After adjusting for the new debt limit, our national debt jumped $107 billion last week. It has risen $538 billion in the last year alone.
The spending problem is deeply rooted in Washington bureaucratic culture, and no administration is immune. The President can set the tone for fiscal restraint or fiscal indulgence, but ultimately Congress controls the purse strings though the appropriations process. One thing the President can do, however, is refuse to sign spending bills or debt limit increases. When neither Congress nor the administration is capable of fiscal self-control, the taxpayer is always the loser. How do you feel knowing the federal government just wrote itself a trillion dollar loan using your labor as collateral?
posted by Champion at 11:48 PM
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