A Quote by Michele Bachmann
After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money that we don't have. But instead of cutting, we saw an unprecedented explosion of government spending and debt. It was unlike anything we've ever seen before in the history of the country.
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After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don't have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.
If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.
Look, I am not worried about Washington cutting too much spending too fast. I mean, the kinds of spending cuts we're talking about just right now are $100 billion out of a $3.7 trillion budget.
It is being alleged that the Federal Government is 'cutting' spending. In fact, we are not 'cutting' anything. Defense spending under this budget would rise by 4.3 percent over last year. Other discretionary spending would also rise.
Do you realize that the 850 billion dollar bank bailout, that sum of money is greater than the entire 50 year running budget of NASA. And so when someone says, 'We don't have enough money for this space probe.' No, it's not that you don't have enough money. It's that the distribution of money that you're spending is warped in some way that you are removing the only thing that gives people something to dream about tomorrow.
It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.
What would you think of a person who earned $24,000 a year but spent $35,000? Suppose on top of that, he was already $170,000 in debt. You'd tell him to get his act together - stop spending so much or he'd destroy his family, impoverish his kids and wreck their future. Of course, no individual could live so irresponsibly for long. But tack on eight more zeroes to that budget and you have the checkbook for our out-of-control, big-spending federal government.
As I have traveled throughout my Congressional district, the one thing I heard loud and clear was simply please stop spending money you do not have, rein in spending, live within a budget.
Right now we have a $600-billion or so Defense Department budget, but when you add in, for example, a trillion-dollar nuclear weapons program over the next decade or two, it adds significantly to it. So it's somewhere around $600 billion. We call for approximately cutting that in half and instead putting those dollars into true security here at home.
The headline in the Washington Post: "Democrats Confident They Can Block Trump's Agenda After Spending Bill Win." They think now they can stop Donald Trump's agenda for the next 3-1/2 years. They've shown how to do it. The agenda tied to the budget. The budget tied to government shutdowns. The Republicans cave at the first mention of a government shutdown; ergo, they've shut down Trump. That's what they're thinking.
President Obama has offered a plan with 4 trillion dollars in debt reduction over a decade, with two and a half dollars of spending reductions for every one dollar of revenue increases, and tight controls on future spending. It's the kind of balanced approach proposed by the bipartisan Simpson-Bowles commission.
Why don't we stop the stimulus spending? There's still about $400 billion or $500 billion of the stimulus plan that has not been spent. Why don't we stop it? It's not working.
OK, so $1 trillion is what it costs to run the federal government for one year. So this money's going to run through September of 2016. Half of the trillion dollars goes to defense spending and the Pentagon. The other half goes to domestic spending - everything from prisons to parks. So there's also about 74 billion in there that goes to the military operations that we have ongoing in Iraq and Afghanistan and Syria.
If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.
I have serious concerns about whether it's prudent to give any foreign country substantial leverage over the U.S. economy. Instead of spending $80 billion on important programs here at home, we're sending this money overseas just to pay interest on our debt.
The federal government is far larger than the Founding Fathers ever intended it to be. We have racked up over $16 trillion of debt through wasteful spending, and it is time that we cut that waste and start reducing the size of our government.
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