A Quote by Paul Ryan
Since taking office, President Obama has signed into law spending increases of nearly 25 percent for domestic government agencies - an 84 percent increase when you include the failed stimulus. All of this new government spending was sold as 'investment.'
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Government is taking 40 percent of the GDP. And that's at the state, local and federal level. President Obama has taken government spending at the federal level from 20 percent to 25 percent. Look, at some point, you cease being a free economy, and you become a government economy. And we've got to stop that.
After almost 50 years in which federal spending averaged about 20 percent of GDP, Joe Sestak and Nancy Pelosi took federal spending to 25 percent. You know, that's a 25 percent increase in the size of the government overnight. That's what we - that's what we've got to rein in.
Mr. Obama plans to boost federal spending 25 percent while nearly tripling the national debt over 10 years. Americans know that this kind of spending will have economic consequences, including new taxes being imposed by the new progressives.
Any so-called stimulus program is a ruse. The government can increase its spending only by reducing private spending equivalently.
Tell me why the limousine fleet has increased by 42 percent since Barack Obama took office. Why are we spending taxpayers' money on that? Limos should be for weddings and proms, certainly not for government officials to be riding around in.
My approach to cutting spending as president, is to do a ten percent across the board cut of all federal agencies, and then ask each of my new agency heads to find another ten percent by drilling down. That's what you do in business to come up with approximately 20 percent cuts for the first fiscal year budget.
We believe you will not have to pay more than the current rate structure proposes - which is, for 50 percent of the public, nothing; for another 25 percent, only a 10 percent increase; and for the remaining 25 percent, a 34 percent increase.
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.
Conservatives and liberals are kindred spirits as far as government spending is concerned. First, let's make sure we understand what government spending is. Since government has no resources of its own, and since there's no Tooth Fairy handing Congress the funds for the programs it enacts, we are forced to recognize that government spending is no less than the confiscation of one person's property to give it to another to whom it does not belong - in effect, legalized theft.
Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U.S. is now 45 percent socialist.
In a clean break from the Obama years, and frankly from the years before this president, we will keep federal spending at 20 percent of GDP, or less. That is enough. The choice is whether to put hard limits on economic growth, or hard limits on the size of government, and we choose to limit government.
Is it just a coincidence that as the portion of our income spent on food has declined, spending on health care has soared? In 1960 Americans spent 17.5 percent of their income on food and 5.2 percent of national income on health care. Since then, those numbers have flipped: Spending on food has fallen to 9.9 percent, while spending on heath care has climbed to 16 percent of national income. I have to think that by spending a little more on healthier food we could reduce the amount we have to spend on heath care.
The question is: How do we reduce spending from 25% of GDP, which is where Obama put us? The focus is on total government spending. Can we bring it down, in a reasonable and politically acceptable way? That's what the Paul Ryan plan does. It puts us on a gradual reform path to reducing the size of government.
Under the Barack Obama rules, if you wanted to help the military, if you wanted a pay raise for the soldiers, if you wanted to buy new airplanes and new ships and more munitions, a dollar for that, you had to have a dollar domestic spending. We just broke that parity. That's the biggest victory we could have had: $25 billion year over year for our military, to begin to rebuild our military, without that kind of corresponding increase in domestic discretionary spending.
What's hurting the U.S. economy is total government spending. The deficit is an indicator that the government is spending so much money that it can't even get around to stealing all of the money that it wants to spend. But the tip of the iceberg is not what hit the Titanic - it was the 90 percent of the iceberg under water.
History shows that when the taxes of a nation approach about 20 percent of the people's income, there begins to be a lack of respect for government.... When it reaches 25 percent, there comes an increase in lawlessness.
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