Cut U.S. spending; start with military
The second skirmish between Republicans and Democrats in the war over spending and revenues will soon begin, as Congress has to decide whether to once again raise the debt limit.
Last year, Congress with Democrats in power raised the debt limit to the current limit of $14.3 trillion. The national debt is now a little over $14.2 trillion.
In 2010, every Republican member of the House voted against raising the debt. But, of course, that was when Democrats controlled the House. Now the scenario has changed and Republicans are responsible for raising the limit. Some new Republican members of the Tea Party Caucus say that they will vote against raising the debt limit unless there are major spending cuts and entitlement reform.
It must be remembered that last December it was Republicans who forced the great compromiser, President Obama, to extend the Bush tax cuts. As a result, revenue that would have enabled the government to avoid having to raise the debt limit early in 2011 became inevitable.
One would think Republicans would finally realize that cutting taxes, but not making major reforms in Social Security/Medicare/Medicaid and eliminating the tax loopholes for corporations, can only spell fiscal disaster.
Thirty years ago, President Reagan cut taxes while increasing spending and the national debt began to soar. President George W. Bush twice cut taxes and increased spending and the debt went from $5.8 trillion to more than $10 trillion. It should be noted that the economy boomed after President Clinton raised taxes twice and with Republican help achieved budget surpluses.
The evidence is pretty strong that it is virtually impossible to avoid deficits if tax rates are reduced while the country is engaged in two wars and partners with NATO in another military operation in Libya. Despite the evidence, Republicans continue to insist on more tax cuts and President Obama usually caves into to Republican demands.
All spending should be cut, but since military spending is the largest spending item in the budget that is the place to start.
Victor Darst
West Dundee