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Economy

Economy

Tax cuts without budget cuts that are substantial enough to reduce the national debt and negate the effects of a reduced tax revenue are pointless.  We MUST reduce spending, across the board.  Both mandatory and discretionary spending cuts are absolutely necessary.  Our liabilities cannot exceed our revenue, especially with an absurd debt load.  We must pay down the debt and have not only a balanced budget, but a positive cash flow.  The way the United State currently runs its finances are a recipe for disaster.

Our national debt has doubled in the past ten years. We cannot keep borrowing from our children. We can’t just cut discretionary spending, we must attack the hard stuff: mandatory spending to include Social Security, Medicare, and Medicaid. If our debt continues to increase, we face increased interest rates that will reduce investment and become a drag on economic growth. We will be less flexible if we need to inject a trillion tax dollars into the economy, as we did during the financial crisis of 2008. Our credit will eventually suffer, and foreign investors will be less likely to buy up our debt, causing the U.S. dollar to collapse. It’s time we started making common sense decisions about spending before it is too late.

I support a balanced budget amendment to The Constitution.

I know first hand how difficult it can be to start a business in the United States.  There are tax burdens, licensing hoops and legal hurdles that start-up companies simply cannot afford to embark.  We should deregulate the process for start-up companies to encourage the spirit of American entrepreneurs.

Embrace free-trade, but when products are being exchanged between nations, I stand with The President in making the deals equitable for everyone involved.


Committee to Elect Joe Walz
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