Mike Kolls (L) for Congress
United States House of Representatives
Texas District #24 -
email - Rep@tx24.us
Smaller Gov't via Reduced Spending
The United States is $ 19,500,000,000,000 in debt. 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?
The calculus is simple... we spend too much. We need to reduce spending.
Can you fathom $ 19.5 Trillion? NOT me. If each person in the nation were to pay his share... $ 62,000 each.
That's $ 248,000 for a family of four. I have certainly NOT received my $ quarter-million "benefit".
The Congressional Budget Office (CBO) also believes current spending is
Interest on the federal debt is $ 315,000,000,000 - 7.7% of the projected FY18 federal budget. This is interest only; the debt grows untouched.
Where does this interest money go?
Do you remember the Budget Sequester in 2013? ... a politicized, partial gov't shutdown. There were
federal workers sent home. Congress, Mr President, send them home permanently.
A Flood of Debt
Not to belabor the point... but, an allegory of massive debt.
If federal spending was a family's monthly spending... ($ Trillion of gov't spending = $ 1,000)
|Income / Revenue||$ 3,654 ||FY18 Projection|
|Spending||$ 4,094||12% more than income|
|Debt||$ 19,500||534% of income||US Debt of $ 19,500,000,000,000!|
What is wrong with our elected officials? Why do WE let them do this?
Why did they NOT address this looming problem in the irresponsible "Budget Deal", October 2015? Why do they continue to ignore the flood waters?
Drain the water / Debt.
We must make tough decisions to NOT place our children in a hopeless, national financial situation.
Again, what is wrong with us?
- Balance the budget via spending cuts
- Annual, 4% across-the-board cuts will balance the budget in approx. 7 years
- 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
- 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
- Reassess federal spending according to
Article I Section 8 of The Constitution of the United States
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 $ 19,500,000,000,0000 (or less) AND ALL provisions are followed/achieved...
The federal debt will be:
Half-paid in 25 years
Fully paid within 35 years, 10 additional years
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:
- Full repeal of the "Affordable" Care Act would reduce both Health and Human Services AND Treasury spending
- Privatization of Social Security would eliminate Social Security Administration spending
- Cuts to Common Defence require a different point-of-view on diplomacy and military adventurism
- Executive agencies, the alphabet soup grows every year - serious cuts are needed
- Repeal the Reorganization Act of 1939 and all related-subsequent statutes
- ... more ideas to come
- Audit or Close the Federal Reserve (The Fed)
- Eliminate gov't-created Inflation... caused by The Fed
- Repeal Dodd-Frank - FULL repeal
- Increase Reserve Requirements - a tighter policy
- Eliminate FDIC "Insurance"
- Hold bank executives financially/legally responsible for their risky "investing"
- Stop bank bail outs; let poorly run banks fail
Life, Liberty, Property!