Weekly Columns
It's the most predictable economic crisis in history. Driven by four consecutive years of trillion-dollar-plus deficits, the nation's publicly held debt is projected to reach 73 percent of the economy this year. Funding for Medicare, Social Security and portions of Medicaid consume 43 percent of federal spending and will rise to 54 percent in 10 years. The federal government is so enormous, it represents 24 percent of our total economy.
Throughout the months of debate and public protest leading up to the 2010 passage of President Obama's health care bill, the White House repeatedly attempted to assure the American people that the government health care takeover wouldn't be all that intrusive. Various members of the Obama administration, as well as the Pelosi-led Democratic majority that controlled Congress at the time, appeared on the news every day to repeat their mantra: "Those who are happy with their current health care can keep it."
I was fortunate to get to meet recently with members of the Norman Chamber of Commerce during their annual trip to Washington. The Capitol's commonsense quotient automatically jumped a few points with so many Oklahomans on the premises, but that's not the only benefit of their visit. It's always educational to hear from people who know what it's like to start and run businesses, to make payroll each month, and to navigate the many hazards of a shaky economy.
Americans are feeling the pinch from high gas prices even earlier than usual this year. The annual Washington tradition of pointing fingers and demanding new energy policies doesn't usually kick off until Memorial Day. However, tensions in the Middle East and rising demand from growing economies in China, India and Brazil have combined to send gas prices skyrocketing at a record-setting pace months in advance of the summer driving season.
With our skyrocketing national debt fast approaching levels that will cripple our entire economy, it's vital that the federal government cut excess spending from every part of the budget . Both political parties must be willing to examine their traditional policy priorities and make tough choices.
The Defense Department budget is certainly not immune from wasteful spending and should not be exempt from review. However, any military spending reductions must be undertaken very strategically to avoid jeopardizing our national security and endangering our men and women in uniform.
President Obama turned in his 2013 budget request a week late this year, but it's clear he did not spend the extra time looking for ways to reduce the deficit. After four consecutive years of trillion-dollar-plus deficits, the Obama administration crafted a budget that actually increases spending.
Conservatives warned from the beginning that President Obama's health care plan was a case of massive government overreach that would restrict health care choices, jeopardize individual freedom and expand government control over personal decisions. However, many never imagined that Obamacare mandates would end up blatantly trampling religious freedoms.
The annual budget report from the nonpartisan Congressional Budget Office (CBO) gets more grim every year. This year's Budget and Economic Outlook confirms that the 2012 deficit is expected to equal $1.079 trillion, marking the fourth consecutive year with a deficit above $1 trillion.
Most State of the Union addresses offer more empty promises than substantive policy. Even by that low standard, President Obama's latest annual address to Congress was a disappointment. Instead of proposing realistic solutions to the nation's severe economic challenges, the president offered a campaign speech full of vague goals and budget gimmicks that are either unenforceable, ineffective, or both.
President Obama's decision to reject the Keystone XL pipeline was met with near universal outrage from both ends of the political spectrum. With good reason. The construction and operation of the Keystone pipeline would create 20,000 direct jobs and as many as 118,000 related jobs. By expanding access to oil from our allies in Canada, the pipeline could greatly reduce our dependence on Middle Eastern oil -- a vital step toward enhancing national security and lowering fuel prices.
