Mike Kolls (L) for Congress

United States House of Representatives
Texas District #24 - map

email - Rep@tx24.us

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Smaller Gov't via Reduced Spending


Drain the water/Debt

 

Unfettered federal spending is the greatest scandal plaguing our nation. It goes unreported, undiscussed, and ignored. The floodwaters of the federal debt are now at $ 20,000,000,000,000… and continue to rise. Each year an annual deficit raises the water.

If our “leaders” raise the debt ceiling, we will continue to stand in the high-waters and encourage it to rise even higher.

Absolutely absurd! Drain the water/debt.

And, the Congressional Budget Office (CBO) also believes current spending is unsustainable.

The calculus is simple... we spend too much. We need to reduce spending.

How Massive?

Comparing the federal finances to an average household is illuminating. As noted, the illustration (right) uses 2015 dollars.

Annual spending exceeds “income” by 12%FY17 deficit $ 693,000,000,000 per CBO
Debt is 5½ times annual incomeFederal Debt now exceeds $ 20,000,000,000,000

No family can survive on a budget like this. A business would have to close its doors in these conditions. Why is it “okay” for the federal gov’t to operate this way? …. It’s NOT!

The federal debt doubles every 8 years. And then there are unfunded mandates...

We cannot continue this reckless spending. The "benefits" have already been consumed. Our children and grandchildren are stuck with the tab.

What is wrong with us?

 

We Need Restraint

Do you remember the Budget Sequester of 2013? ... a politicized, partial gov't shutdown. There were 800,000 nonessential federal workers sent home. Congress, Mr President, send them home permanently.

What is wrong with our elected officials? And, why do WE let them do this? Why do they continue to ignore the flood waters?

 

The Solution

We must make tough decisions to NOT place our children in a hopeless, national financial situation.

Again, what is wrong with us?

Fiscal Corrections

  1.   Balance the budget via spending cuts
    •   Annual, 4% across-the-board cuts will balance the budget in approx. 7 years
    •   Make all federal expenditures Discretionary - eliminate the construct of "Mandatory" spending
      •   Return to use of 12 annual (traditional) appropriation bills
      •   Eliminate use of Continuing Resolutions (CRs) and Omnibus Spending Bills
    •   Do NOT increase the Debt Ceiling - never!
  2.   Reduce federal spending each year
    •   Require ALL federal departments to annually reduce spending by 4% - evenly distribute the pain
    •   Apply each annual surplus against the debt
  3.   Do NOT change the Tax Code... until Step 5
    •   Taxes cannot be increased
    •   Annual tax receipts must be maintained until the federal debt is reduced to $ 10,000,000,000,000
  4.   Reassess federal spending according to Article I Section 8 of The Constitution of the United States
  5.   Re-apportion federal taxes to the Sovereign States
    •   Repeal Amendment XVI
    •   Close the Internal Revenue Service (IRS)
    •   Burn the US Tax Code

Assuming the federal debt is only $ 20,000,000,000,0000 (or less) AND ALL provisions above are followed/achieved...

The federal debt can be:

  • Half-paid in 25 years
  • Fully paid within 35 years, 10 additional years

    And Consider

    Nearly 70% of federal spending is on Safety-Net programs. Large programs will have large cuts.

    The following are some of the tough decisions ahead:

    Monetary Corrections

    1.   Audit or Close the Federal Reserve (The Fed)
    2.   Eliminate gov't-created Inflation... caused by The Fed
    3.   Repeal Dodd-Frank - FULL repeal
    4.   Increase Reserve Requirements - a tighter policy
    5.   Eliminate FDIC "Insurance"
      •   Hold bank executives financially/legally responsible for their risky "investing"
      •   Stop bank bail outs; let poorly run banks fail

     

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    Life, Liberty, Property!