I do not want to see anyone’s taxes raised at this time, but I believe reducing funding for Social Security by extending the payroll tax holiday is bad policy. It has not helped boost economic growth, and it replaces Social Security revenues with more borrowing. This is the last thing we need considering that Social Security already has an unfunded liability of $18.7 trillion.
I support tax relief for low and middle-income taxpayers - but not by starving Social Security revenues. Now that the Senate has voted to extend the payroll tax holiday for two months, let's use that time to craft an alternate tax relief package that targets middle-to-lower income workers. A properly-targeted package would be smaller and easier to offset with credible spending cuts - instead of increased fees on taxpayers.
The proposal the Senate passed last Saturday is typical Washington politics, intended to produce short-term political gains. Without structural reform, we will bankrupt Social Security, and we will bankrupt our nation. It is long past time to act responsibly and begin to seriously address and reduce our debt and deficits.
Opposing Omnibus Appropriations Measure
The budgeting process for the Federal government is horribly broken. The Democrat-controlled Senate has refused to fulfill its legal obligation by failing to pass a budget in over 2 years (968 days and counting). The Omnibus bill that I voted against last Saturday is just the latest example of Washington’s business as usual. Business as usual is bankrupting our nation.
The bill is 1219 pages long, and was available for review only 58 hours before the Senate voted on it. It does not begin to address our spending problem or our serious fiscal challenges. It will still produce a deficit that could exceed $1 trillion for the fourth year in a row.
My ‘NO’ vote is a vote against the broken process, as well as the continuation of massive deficit spending. Washington is growing our national debt faster than our economy is growing. That is reckless and irresponsible. It mortgages our children’s future. If we don’t begin to seriously address our fiscal situation, we face a day when our creditors will do it for us – in a process that will be far more painful than had we acted sooner. The time to act is now. Time is running out.