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482 Billion Reasons for Change

by Jim Moore

The Bush Administration just announced that the federal budget deficit for the fiscal year beginning in October is projected to be $462,000,000,000. Want some perspective?

This massive shortfall is more than 14 times the entire $34 billion Minnesota biennium budget for 2008-2009.  Yes, we could conceivably run the State of Minnesota for 28 years on $462 billion.   And this projected deficit does not include spending on the Iraq War or a potential Fannie Mae/Freddie Mac bailout.

I am convinced that this level of deficit spending on top of the $10,000,000,000,000 national debt is the overwhelming driver of our weak economic growth, weak dollar abroad, rising fuel prices, weak job growth and host of other economic problems that are directly squeezing American families. 

Plain and simple, this crisis epitomizes the lack of Congressional and Presidential budget leadership and this void is not only crushing free enterprise, but opportunities for American workers. When we borrow to invest, we are creating an asset for the future. When we borrow to support our compulsive spending, we are on the road to financial despair. We simply cannot suck this much capital out of the markets and continue to expect minimal economic consequences.

If change is going to remain the mantra of this election, and I hope it does, you need to demand a real answer from these candidates on the question of “How will you address this fiscal monster?” Vague responses are not change. Tough, aggressive, and visionary responses are. If their answer snaps your head, threatens some of your favorite programs and leaves you inspired to move on into the future, then you have your candidate of change. If not, you’re still stuck on the merry-go-round. Just hold your breath and pray you don’t get thrown off.

We were just given another 482 billion reasons why two-party governance remains the recipe for continued incompetence. What’s your move?

Comments (2)

My move
written by Josh D. Ondich , July 31, 2008

It is not waiting and expecting the duopoly to bring meaningful change by voting for them. My move is to vote Independence. You as the voter have to bring change to Washington, DC because Washington, DC won't bring change to you, If it does it won't be what you wanted.


More Than Public Policy
written by Charles Malkerson , August 20, 2008

Jim Moore's comments on the federal debt and related problems are right on the money, so-to-speak, and bear continued repeating until someone listens, responds and acts. This, however, underscores one of the reasons I appreciate the IP.

As a Moderate Republican, I was a very early member and supporter of the Concord Coalition. I greatly appreciated their fine work in analyzing and reporting on the federal debt issue. However, as the years went by I became more and more frustrated with the lack of consequence generated by their good work. Their public policy studies were resulting in just that........just more public policy discussion. Two years ago I wrote them and said it was now too late for just discussion, and that they were not making any impact as far as I was concerned. I told them I would stop supporting them until they took the next step and began to support publicly candidates who espoused real reform in this context.

Now, with the IP, I found not only sound public policy, but also a willingness to go one step further, a willinginess to endorse and support candidates who would actually take the political risk to work toward solutions of these issues. Indeed, I was at the convention when the IP voted to cross-endorse appropriate candidates from other parties. I thought that was a bold and selfless act.

I guess this all makes me an MRIP....and proud of it.



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