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Deficits and Fiscal Credibility--A Democratic senator says no to a huge federal spending bill
Wall St Journal ^ | 3-4-09 | Sen. Evan Bayh

Posted on 03/04/2009 10:58:09 AM PST by SJackson

THIS WEEK, THE UNITED STATES SENATE WILL VOTE ON A SPENDING PACKAGE TO FUND THE FEDERAL GOVERNMENT FOR THE REMAINDER OF THIS FISCAL YEAR

THE SENATE SHOULD REJECT THIS BILL. IF WE DO NOT, PRESIDENT BARACK OBAMA SHOULD VETO IT.

THE OMNIBUS INCREASES DISCRETIONARY SPENDING BY 8% OVER LAST FISCAL YEAR'S LEVELS, DWARFING THE RATE OF INFLATION ACROSS A BROAD SWATH OF ISSUES…APPROPRIATE FOR A NATION FLUSH WITH CASH OR UNCONCERNED WITH FISCAL PRUDENCE, BUT AMERICA IS NEITHER.

OUR NATION'S CURRENT FISCAL IMBALANCE IS UNPRECEDENTED, UNSUSTAINABLE AND, IF UNADDRESSED, A MAJOR THREAT TO OUR CURRENCY AND OUR ECONOMIC VITALITY. THE NATIONAL DEBT NOW EXCEEDS $10 TRILLION. THIS IS ALMOST DOUBLE WHAT IT WAS JUST EIGHT YEARS AGO, AND THE DEBT IS GROWING AT A RATE OF ABOUT $1 MILLION A MINUTE.

WASHINGTON BORROWS FROM FOREIGN CREDITORS TO FUND ITS PROFLIGACY… THE MORE OF OUR DEBT THAT FOREIGN GOVERNMENTS CONTROL… MASSIVE DEBTS OWED TO FOREIGN CREDITORS WEAKEN OUR GLOBAL INFLUENCE, AND THREATEN HIGH INFLATION AND STEEP TAX INCREASES FOR OUR CHILDREN AND GRANDCHILDREN.

THE SOLUTION GOING FORWARD IS TO STOP WASTEFUL SPENDING BEFORE IT STARTS. FAMILIES AND BUSINESSES ARE TIGHTENING THEIR BELTS TO MAKE ENDS MEET -- AND WASHINGTON SHOULD TOO.

THE OMNIBUS DEBATE IS …THE FIRST INDICATION OF HOW WE WILL SHAPE OUR FISCAL FUTURE. SPENDING SHOULD BE HELD IN CHECK BEFORE TAXES ARE RAISED

IT'S ABOUT TIME WE HAD A LEADER COMMITTED TO ADDRESSING THE DEFICIT…BUT WHAT ULTIMATELY MATTERS ARE NOT MEETINGS OR WORDS, BUT ACTIONS

THE BLOATED OMNIBUS REQUIRES SACRIFICE FROM NO ONE, LEAST OF ALL THE GOVERNMENT. IT ONLY EXACERBATES THE PROBLEM AND HASTENS THE DAY OF RECKONING.

CONGRESS SHOULD VOTE "NO" ON THIS OMNIBUS AND SHOW WORKING FAMILIES ACROSS THE COUNTRY THAT WE ARE AS COMMITTED TO LIVING WITHIN OUR MEANS AS THEY ARE.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: 111th; agenda; bhoeconomy; bhostimulus; budget; congress; democrats; economy; evanbayh; impeachobama; moneylist; obama; obamanomics; ourtaxdollars; pelosi; porkbarrel; porkulus; reid; rush; socialism; taxes; ussenate
Highlights only for those without access to the subscription site.
1 posted on 03/04/2009 10:58:09 AM PST by SJackson
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To: SJackson

Don’t know why the paste came out in CAPS, but it’s worth yelling about.


2 posted on 03/04/2009 10:59:27 AM PST by SJackson (a tax cut is non-targetedÂ…no guaranteeÂ…theyÂ’re free to invest anywhere that they want, J Kerry)
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To: SJackson

OH MY GOD! RUN!


3 posted on 03/04/2009 11:01:14 AM PST by 1rudeboy
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To: SJackson

Boy Bayhs office getting thousands of calls. He might have seen the rising tide.


4 posted on 03/04/2009 11:13:33 AM PST by sausageseller (http://coolblue.typepad.com/the_cool_blue_blog/)
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To: SJackson

Wonder if Bayh will help the Republicans beat obama’s 4 trillion dollar budget.


5 posted on 03/04/2009 11:20:46 AM PST by KansasGirl
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To: Kermit the Frog Does theWatusi

"OUR NATION'S CURRENT FISCAL IMBALANCE IS UNPRECEDENTED, UNSUSTAINABLE AND, IF UNADDRESSED, A MAJOR THREAT TO OUR CURRENCY AND OUR ECONOMIC VITALITY."

A flim-flam socialist destroys the U.S. economy, A.D. 2009.
But it's not a joke or just a bad movie...

6 posted on 03/04/2009 11:56:35 AM PST by HowlinglyMind-BendingAbsurdity
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To: SJackson
Mr. Bayh, a Democratic senator from Indiana, served as governor of Indiana from 1989 to 1997.

7 posted on 03/04/2009 1:52:33 PM PST by Fred (Proud Member of the Obama Enemies List)
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To: SJackson
Highlights only for those without access to the subscription site.

The Wall Street Journal's OpEd pages are open access, i.e. free to the public.

8 posted on 03/04/2009 2:05:17 PM PST by neverdem (Xin loi minh oi)
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To: SJackson

I hope these Senators connect with the people. I hope they understand if Obama gets away with this; there will be no Congress.


9 posted on 03/04/2009 2:47:41 PM PST by freekitty (Give me back my conservative vote.)
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To: SJackson

Even McGovern doesn’t like it. This is not the Party of the Democrat.


10 posted on 03/04/2009 2:49:03 PM PST by freekitty (Give me back my conservative vote.)
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To: freekitty
Even McGovern doesn’t like it. This is not the Party of the Democrat.

It would be a better nation if there were more Democrats like Bayh, and McGovern. While I'm not a McGovern fan, his loyalty isn't a question, imo. And while he never admitted his error on Vietnam, he was one of only a couple advocating a reengagement to stop the genocide in Cambodia. Kind of hard to do after years of whipping up anti military emotions, George, but your instincts were right and I'm sure millions of Cambodians would thank you. Had Congress and the nation listened to you.

11 posted on 03/04/2009 4:05:29 PM PST by SJackson (a tax cut is non-targetedÂ…no guaranteeÂ…theyÂ’re free to invest anywhere that they want, J Kerry)
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