The focus of our Party is to bring Minnesota politics back to pressing issues, including health care, education, transportation, environmental preservation and economic factors, such as dependency on foreign oil. We stand for government and political leadership that serves the highest long-term interests of our state and oppose partisan politics based solely on self-interest, extremism, or special interests.
While reading a little further on the new law, a startling fact appeared. Two members of the Minnesota Congressional delegation actually voted against the law when it came up for a vote in the House of Representatives on April 30th. Minnesotans in CD2 and CD6 will be ashamed to find out that the people they sent to Washington as their representatives in Congress actually took this opportunity to side with the credit card companies. John Kline and Michele Bachmann were the only Minnesotans to vote against the law.
Chair
Brian Faas,
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, (952) 237-2239
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Vice-Chair
Bill Wilcox,
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, (952) 898-4071
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Secretary
Marian Brown,
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, (952) 432-7707
Treasurer
Joyce Franchett,
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, (952) 322-2664
Public Relations
Gerry Drewry,
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, (651) 463-8006
Web Content
Jon Ness,
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Dr. Douglas Holtz-Eakin is a highly respected economist, and the former director of the non-partisan Congressional Budget Office. The following article was printed in the Nov. 21st edition of the Wall Street Journal, and adapted from testimony he gave before the Senate Committee on the Budget on Nov. 10.
House signaled that it will get serious about reducing the deficit next year—after it locks into place massive new health-care entitlements. This is a recipe for disaster, as it will create a new appetite for increased spending and yet another powerful interest group to oppose deficit-reduction measures.
The planned deficits will have destructive consequences for both fairness and economic growth. They will force upon our children and grandchildren the bill for our overconsumption. Federal deficits will crowd out domestic investment in physical capital, human capital, and technologies that increase potential GDP and the standard of living. Financing deficits could crowd out exports and harm our international competitiveness, as we can already see happening with the large borrowing we are doing from competitors like China.
Mr. Obama and his advisers say they understand these concerns, but the administration's policy choices are the equivalent of steering the economy toward an iceberg. Perhaps the most vivid example of sending the wrong message to international capital markets are the health-care reform bills—one that passed the House earlier this month and another under consideration in the Senate. Whatever their good intentions, they have too many flaws to be defensible.
If there really are savings to be found in Medicare, those savings should be directed toward deficit reduction and preserving Medicare, not to financing huge new entitlement programs. Getting long-term budgets under control is hard enough today. The job will be nearly impossible with a slew of new entitlements in place.
What to do? The best option would be for the president to halt Congress's rush to fiscal suicide, and refocus on slowing the dangerous growth in Social Security, Medicare and Medicaid. He should call on Congress to pass a comprehensive reform of our income and payroll tax systems that would generate revenue sufficient to fund its spending desires in a pro-growth and fair fashion.