Jim Tobin, A Friend Of Liberty (1945-2021)
May 2nd, 2022
Click here to view this TUA Comment as a PDF.
At the most recent national election, heads rolled in Washington and candidates for both chambers of Congress were elected who purported to be fiscal conservatives. Now these newly-elected public officials must show some backbone and make good on their campaign promises…if they are to keep their heads.
More than 40% of federal spending is borrowed. This year, the federal budget’s deficit is estimated to be more than $1.5 trillion. The easy way out is to increase the federal debt limit and borrow more, which is favored by Washington’s perennial spenders. The less popular but more desirable action would be to cut federal spending, balance the budget, and make way for real tax cuts.
Cutting or modifying Medicare and Social Security is a touchy subject, but there are other areas where spending can be reduced or eliminated first, the most egregious spending resulting from our military misadventures in countries that present no threat to the United States.
According to Brown University’s Watson Institute for International Studies, in the 10 years since American troops were sent into Afghanistan, the federal government has already spent $2.3 trillion to $2.7 trillion. The final bill for U.S. military involvement in Iraq, Afghanistan and Pakistan could be as much as $4.4 trillion.
According to Rasmussen Reports, seventy-five percent of voters nationwide agree that “The United States should not commit its forces to military action overseas unless the cause is vital to our national interest.” American voters have more smarts than our One-World, interventionist President and our hawkish Congress. Disengaging from our costly, disastrous military escapades would save trillions of dollars and precious American lives.
Our elected representatives must bring federal spending under control. Printing more dollars to pay for undesirable projects and military adventures will only cause more inflation and will literally bankrupt the U.S.