Weekly Columns
The House of Representatives took two significant steps last week toward reversing the nation's disastrous debt trajectory.
The budget battles of the past few days confirm vast differences between Democrats and Republicans when it comes to fiscal priorities. With the nation mired in a continuing recession and headed gradually but inevitably toward a debt crisis, the Democratic majority last year failed to pass a budget or any funding bills for 2011. When the Republican majority took control of the House in January and quickly began cutting spending, Senate Democrats resisted
"The President in every possible instance shall consult with Congress before introducing United States Armed Forces into hostilities or into situations where imminent involvement in hostilities is clearly indicated by the circumstances."
Last week marked the one-year anniversary of the passage of Obamacare into law, and opposition among the nation's employers remains as strong as ever. Nancy Pelosi's infamous comment that Congress would "have to pass the bill so that we find out what is in it" underscores the fact that the more job creators learn about it, the more they dislike it.
A recent report from the Joint Economic Committee (JEC) eloquently illustrates the connection between spending cuts and job creation. In their analysis of economic data from all developed countries between 1970 and 2007, the JEC uncovered some instructive and encouraging findings.
The sudden, significant spike in gas prices is straining American family budgets and jeopardizing our fragile economic recovery. Unrest in North Africa and the Middle East has driven prices up 20 cents in just the last few days, and prices have increased 68 cents compared to this time last year. According to analysts, every penny increase in gas prices costs consumers an extra $4 million per day.
A government shutdown has been averted. For now. Harry Reid and Senate Democrats were poised to close the government rather than accept House Republicans' plan to cut $100 billion from the remaining months of the 2011 budget. The House GOP majority remained firm in our conviction that spending must be reduced and passed a short-term version of our original legislation. Rather than cutting $100 billion over 7 months, this bill cuts $4 billion over two weeks.
Media reports may try to suggest otherwise, but the responsibility of avoiding a potential government shutdown rests entirely with Harry Reid and the Senate Democrats.
The budget released last week by President Obama is the clearest signal yet that Congress should expect no support from the White House in tackling the national debt. The 2012 budget was President Obama's opportunity to provide leadership and show he is serious about addressing the most dire debt crisis in our history.
Instead, the president offered a budget that proposes $8.7 trillion in new spending, $1.6 trillion in new taxes, and $13 trillion in new debt.
Thanks to the former Democratic majority's failure to pass a budget last year for 2011, Congress has an opportunity to undo some of the fiscal damage President Obama has inflicted on the current budget, while simultaneously charting a fiscally responsible course for 2012.
