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Posted by: Brent James on February 4, 2008   Hot Issues •

If you were the American president, what gift would you give these Untied States before riding into the sunset? My guess is that most of us would want to leave office having secured an increased financial stability and a prosperous economy. That way, regardless of who succeeds you, be they Democrat or Republican, the country has a better chance of moving forward with hope and a positive momentum. A bit of breathing room while we continue to fight (checks and balances work).

So what’s with President Bush proposing the country’s first $3 trillion budget – the largest ever. Whatever happened to the idea of smaller government? So much for good intentions. This budget holds the line on spending for most government programs, increases defense spending to fight terrorism, and the only proposed savings would come from slowing the growth of health programs. Oh yes, the tax cuts are still part of the deal. This neat summary the Office of Management and Budget explains in over 2000 pages.

If enacted, this bill would supposedly balance the budget by 2012, assuming the economy suffers no unexpected downturns. But in light of recent market news, that’s too much to assume. We may already be "downturning." And why 2012? Why is every "fix" to be realized at some future date? Because government can’t live in the present like we citizens are expected to. Because Congress refused to balance the budget each and every time the effort to do so has been made.

Joel Kaplan, Deputy Director of the Office of Management and Budget, had this to say about the 2007 budget, “The President is also proposing again to hold discretionary spending growth below the rate of inflation, cut discretionary spending that’s not related to national security, and slow the rate of entitlement spending growth. Last year the Congress delivered on all three of these proposals for spending restraint – we’re hopeful we can do it again this year.” Spending restraint? Please. They’re politically bound. Read Mr. Kaplan's informative exchanges. They are telling big government speak.

Foolishly, Americans and American businesses have followed our government’s lead by borrowing to spend another day. Now, like them, we are in real trouble. Rather than saving our money, we are going to foreign countries for cash. Know why China has money to lend? Because they save and we don’t. Our complete lack of fiscal restraint is endemic. Remember, government can’t fix anything – especially that which it least understands, our free market economy. Words of advice from the business sector: Get out of the way, stop spending money you don’t have, stop asking for more tax revenues, and stop trampling our potential with endless growth-stifling policies. The market will heal itself. Read a businessman's perspective.

Who would’ve thought President Bush would be presiding over this kind of reckless government spending that has come to characterize his administration? Not those electing him to office. I voted for him, but I am reminded by those more experienced, that I didn’t listen closely enough. I didn’t have discriminating vision. The information was there, they say, it was just cleverly tucked in between what he actually said while campaigning. His many policy and program ideas/proposals had at their center a government solution. These days I have a much keener set of eyes. That’s why knowing the candidates is crucial to your vote this November.
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Tags: overextended spending, smaller goverment, fiscal restraint, $3 million budget