Principle: PRO-Fiscal Discipline

We finally have a President in office that understands the meaning of “Fiscal Discipline”. Trump’s budget makes the tough spending cuts needed, $4.3 trillion over 10 years, to begin our nation’s climb out of unsustainable debt and economic stagnation, and back to positive growth and future prosperity.

Washington Examiner – Leading fiscal conservatives are showering President Trump’s first federal budget proposal with some of their highest praise: comparisons to Ronald Reagan.

“This is the most fiscally conservative budget since Reagan,” Chris Edwards, director of tax policy studies at the Cato Institute and editor of Downsizing Government, told the Washington Examiner.

Grover Norquist, president of Americans for Tax Reform, called it a “very strong budget” and said it’s what the 40th president himself would have submitted if he had both a Republican House and Senate. Democrats controlled the House for all eight years of the Reagan administration, one of the reasons conservatives cite for why even Reagan was unable to achieve enduring federal spending cuts.

Norquist then went a step further. “This is a Reaganite, limited-government, anti-waste and anti-duplication budget,” he said. “It certainly makes those Republican critics who said that Trump would be a big-spending populist look like idiots.”

Read more at: Trump's budget draws comparisons to Reagan – Washington Examiner.

Once again, Congress readies its rubber stamp on our nation’s debt limit and continues America’s unsustainable spending. It has become politically popular to continue to kick the debt can down the road, as no one in Washington seems to have a care in the world about who will have to pay our 20 TRILLION dollar debt and when that will be. What we do know from history is that every great nation before us has collapsed due to economic ruin caused by runaway government spending and debt. Will America, and those that govern her, wake up in time, grow a spine, and begin to realize our the true threat of our ever-pending debt catastrophe?

USA Today – Erin Kelly – While Congress has been focused on creating a new health care law and confirming President Trump’s Cabinet nominees, lawmakers have paid scant attention to a looming Thursday deadline to raise the government’s debt limit so that it can pay its bills and avoid a potentially devastating economic crisis.

The U.S. Treasury Department’s power to borrow money will expire on March 16 unless Congress acts quickly to raise the debt ceiling. Although the Treasury won’t run out of cash to pay creditors until sometime this fall, any delay in raising the debt limit could risk the government’s credit rating and cost taxpayers billions of dollars in increased borrowing costs.

Read more at: What’s the debt limit and why is Congress about to raise it again? – USA Today.

With the Fed keeping interest rates artificially low, we’ve been spared the soaring costs of paying the debt service on a rapidly expanding Federal debt. With interest rates now on the rise, pain is almost certainly coming to the US taxpayer in the form astronomical interest payments on our trillion dollar debt.

The Washington Times – J.T. Young – Despite the federal deficit’s recent decline, it remains large, and the nation’s growing debt threatens to quickly accelerate it to new heights.During the past four years, the deficit has been historically high and federal interest rates historically low. Together, they have overshadowed the rapidly increasing federal debt. Now, with the deficit down from its heights and interest rates up from their lows, a looming menace is becoming clear: The federal government’s increasing debt has created the equivalent of a large, new entitlement-spending program in the form of debt-service costs.No longer a peacetime record, the deficit still remains very large. The fiscal 2013 deficit came in at 4.1 percent of gross domestic product GDP. While much lower than its 9.8 percent peak in 2009, it is also still much higher than either its 40-year average of 3 percent, calculated by the Congressional Budget Office, or the fiscal 2007 level of 1.1 percent — the last year before the recession. Had it not been for the large deficits of the previous four years, fiscal 2013’s rate would have been the highest since 1992.

Read more at: YOUNG: What if interest on the national debt skyrockets? – Washington Times.

Economic slavery is real, and one of the most seductive ways Americans find themselves falling further behind than ever financially. As anyone that has been in debt knows, as some point you must pay back what is borrowed. If our US debt continues to grow astronomically, it is our children, and their children who be working as slaves to pay back our present day excesses and lack of financial discipline.

Des Moines Register – In Iowa, Sarah Palin compared the federal debt she says shackles Americans to slavery.The government, like a slick marketer, seductively offers “free” services, said Palin, a conservative provocateur and former vice presidential candidate who makes occasional, high-profile trips to politically-important Iowa.“Our free stuff today is being paid for by taking money from our children and borrowing from China,” she said at the Iowa Faith & Freedom Coalition’s fall fundraiser at the State Fairgrounds Saturday night. “When that money comes due – and this isn’t racist, but it’ll be like slavery when that note is due. We are going to beholden to the foreign master.”

Read more at: Palin compares federal debt to slavery at Iowa dinner | The Des Moines Register | desmoinesregister.com.

Americans know they wouldn’t receive a credit limit increase with their bank if they didn’t pay their bills. These same Americans oppose our government from increasing their debt ceiling, while our nation debt reaches $17 trillion.

With the federal government expected to hit its debt limit in mid-October, 70 percent of Americans oppose raising the debt ceiling, the latest Reason-Rupe poll finds. In fact, 55 percent of Americans say they do not support raising the debt ceiling even if it causes the U.S. to default on its debt.

If equal spending cuts accompany an increase in the debt ceiling, 45 percent say they’d support raising it and 46 percent would oppose. Thirty-five percent favor raising the debt ceiling in exchange for cutting off funding to the Affordable Care Act, also known as Obamacare, with 56 percent opposed.

Nearly two-thirds, 63 percent, of Americans feel members of Congress are out of touch with their constituents when it comes to federal spending. Seventy-six percent of Americans believe the federal government spends too much money, 11 percent say it spends the right amount, and seven percent say it spends too little.

In response to open-ended questions, Americans told Reason-Rupe the government wastes 60 cents out of every dollar they pay in federal taxes and they’d cut federal spending by 30 percent across the board.

Read more at: Poll: Americans Oppose Raising the Debt Ceiling Even If U.S. Defaults and Say Government Wastes 60 Cents of Every Tax Dollar – Reason.com.