Issue Position: Balancing the Budget

Issue Position

Right now, too many politicians in Washington DC, including Senator Maria Cantwell, are spending recklessly and bankrupting the futures of all of our children.

The day Conrad was born, his share of the national debt was more than $30,000. Unless America changes course and get's spending under control, his share will be nearly $100,000 by the time he graduates high school.

That's not fair to Conrad or any of America's children. They should have the same chance at the American dream that we've all had.

In fact, when I earned degrees from WSU and Harvard, I studied the economies of developing countries and the risks that make them poor. Today, America's finances remind me of those poor countries and our risks will only grow if we continue have to borrow so much from banks overseas.

We need to get spending under control and have balanced budgets.

We know that Maria Cantwell can't do that.

When Cantwell took office, the government had a budget surplus of more than $200 billion dollars. Now, eleven years later, Congress is overspending by over $1 and a half trillion dollars per year.

Since Maria Cantwell has been in office, the national debt has more than doubled to nearly 15 trillion dollars.

The spending problem in our country isn't just about one political party, both Democrats and Republicans are responsible, it's a failure of politics as usual in Washington DC and the system has to change.

But whether it has been under President Bush, or President Obama -- Maria Cantwell has been directly responsible for that system and the growth in debt that is bankrupting America's future.

Cantwell voted to increase the debt ceiling 7 times and been a part of almost every reckless spending decision of the last decade whether she was funding poorly planned wars in the Middle East or crony capitalism here at home like the so called "stimulus" and payments to Solyndra.

It's like Maria Cantwell can't say no to spending. In fact, she can't even say yes to writing a budget, it's been over 1000 days since the US Senate has even passed a budget. Nor has Cantwell been willing to put forward a real plan to deal with the long term entitlement challenges.

America can do much better, but it will take real leadership. Here's how;
For most of recent history, America has collected about 18% of GDP in revenue. The problem is that today, our government is spending at nearly 25% of GDP and the economic downturn means that we're only collecting at about 14%

We need to re-size government and control spending at about 20% of GDP.
Then, we should pass pro-jobs growth reforms to help small businesses grow our economy -- that's the best way to help government revenue - and have comprehensive tax reform to develop the fairest, most internationally competitive tax system that raises about 20% of GDP in revenue so it balances.

We shouldn't raise taxes that hurt jobs, but America also shouldn't have a tax code where GE files a 57,000 page tax return and pays zero taxes on $13 billion in profit.

Think about how many lobbyists, lawyers and accounts it takes GE to do that. Maria Cantwell may be comfortable with the system of crony capitalism, but I'm not.

I also believe that America needs a balanced budget amendment, to force fiscal responsibility and to force bi-partisan political cooperation, two things America desperately needs.

That's my pledge to you. I'll support the tough reforms needed to reduce government spending to a sustainable 20% of our economy, I'll fight tax increases that hurt jobs and I pledge to vote for a balanced budget.

America needs elected officials who understand that putting our country in massive debt is an issue of national security and endangers the American dream not just for Conrad, but for all of our children..

They deserve better than what they're getting from Washington DC. Let's change that system and the dysfunction that is bankrupting their future.

Let's get America back on track with fiscal responsibility. We know Maria Cantwell can't do it. Let's send a new Senator to Washington who can. I'm Michael Baumgartner.

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