Allen West's Weekly Wrap Up
Greetings to our constituents, fellow Floridians, and all Americans, it is time again for my weekly update report to you. These have been some critical weeks for the fiscal future of our America and I continue to pray for the wisdom and discernment of Solomon.
Our National debt is now 70% of our GDP, and we know that our past two quarters America has had 0.5% and 1.3% GDP growth. That is simply why we can no longer raise our debt ceiling without any consideration of curtailing government spending.
Federal government spending is currently 24.4% of our GDP which is why we must “cap” federal government spending and get it aligned with incoming revenues, at approximately 18-20%. It is about making the federal government accountable,implementing spending controls, and enforcing spending discipline.
I keep hearing the President talk about a “balanced approach” when what we need is a balanced budget. There can be no long term resolution to this issue of federal government debt unless we have a balanced budget amendment. Washington has a spending problem and that is what greatly affects our middle class and the future for our children and grandchildren.
Let us show we are responsible to the American people, let’s send them a balanced budget amendment which would promote certainty and peace of mind.
In less than three years, President Obama and his failed economic policies have resulted in nearly $4 trillion of new debt. That is not a balanced approach… .we need a realistic approach.
This is about America and this is about economic freedom. No one in Congress is holding the American people hostage. Those individuals who in the years since 2007 added close to $6 trillion in new debt are the ones holding the future of our country hostage.
Washington has enough money to meet America’s needs. It is time to cut spending, not raise taxes.
I keep hearing my Democrat colleagues speak of “compromise,” This hypocrisy is laughable. Where was the compromise from Democrats with the Patient Protection and Affordable Care Act (Obamacare), the nearly $1 trillion stimulus bill, or Cap and Trade?
Enough with the rhetorical demagoguery from liberal progressives about oil subsidies (I believe we need to cut the corporate/business tax rate to 20% from 35% and eliminate subsidies and loopholes), on taxing the rich and “shared sacrifice” (the top 1% of taxpayers pay 34% taxes, top 5% taxpayers pay 57% of taxes, top 25% taxpayers pay 86% of federal taxes… move to a flat personal income tax of 13-15% and eliminate loopholes), and no more about corporate jets (this is only about a $300 million in savings per year, and the Democrats fail to remember, it was President Obama who added this tax loophole into his stimulus bill).
Revenues come from tax code reform, not tax increases!
It is time for common sense, real solutions, because the definition of insanity is to continue to do the same thing and expect different results.
Steadfast and Loyal,