It's Time to Cut Up the Credit Card
by Blake Farenthold on October 21, 2013 at 2:44 PM
As you know, this past week, Congress passed a measure to raise the debt ceiling and reopen the government. While I’m relieved the Senate proposal allows the country to pay its bills, that it keeps agreed upon spending levels, and that it requires income verification for those seeking subsidies under Obamacare, it did not go far enough in solving our financial crisis. Since the shutdown began, the House offered proposal after proposal to end the government shutdown and give the American people the same exemptions from Obamacare that the President gave to his allies and members of Congress. The Senate and the President refused to negotiate with us on any of these proposals, prolonging the government shutdown, driving us to the brink of default, and making this whole situation as painful as possible for political gain.
While I am committed to making sure America doesn’t default on our debts, I strongly believe we must cut up the credit card and find ways to grow our economy first. We are 17 trillion dollars in debt. We have got to find a way to fix this crisis. We must attack the debt on two fronts, by cutting spending and growing the economy.
We must be ever vigilant for wasteful government spending and look for ways to do away with unnecessary government programs. Not only is big government expensive to run but it strangles freedom. We need to look no further than recent scandals at the IRS targeting groups based on their political affiliation and the NSA collecting data on everyone in America to see that big government can trounce liberty. Mountains of red tape generated by an over-sized and over-funded government also make it more difficult to achieve the American Dream.
The American Dream is how we grow the economy. As people go back to work, move up in their careers and, in many cases, start their own businesses, they become bigger tax payers - not because the tax rates are higher, but because they are making more money and have a higher taxable income. How do we encourage entrepreneurship? We get the government out of the way. We simplify the tax code, we do away with unnecessary regulation and streamline the permitting process. We become a country that says yes to jobs.
Good jobs are the key. That’s why I feel it’s so important to stop the Obamacare train wreck. Unfortunately, we learned last week the President will not negotiate on his signature healthcare legislation. That does not mean we should stop trying to lessen the damage Obamacare is having on the country, but it does mean, as we fight the Obamacare fight, we must not ignore other ways to make life better for all Americans.
The President said he would not negotiate with the debt ceiling and government shutdown as “hostages.” Even though I did not vote for last week's plan, now that the debt ceiling has been raised and the government has been reopened, it’s time for President Obama to keep his word and come to the table. There is lots we can talk about. Obamacare is an obvious topic for negotiations with the roll-out problems and all, but I’m doubtful the President will want to work with us on his signature legislation. We ought, however, to be able to make progress on tax reform, deregulation, and welfare reform while still talking about the problems with the healthcare law.