(Table
Infrastructure until 2019)
Jim
Rickards appeared on Fox Business News with Stuart Varney on 2/8/18 and made
his case that the stock market is balking because of the US government debt
problem.
I liked
what Rickards said, because I am convinced that the “infrastructure” spending
should not be pushed. I would prefer
that Congress balance their budget and live within their means in 2018.
Table
Infrastructure Spending
I think
Trump should pivot and table his $1.5 trillion infrastructure plan until 2019.
Trump
should repeal Obamacare and Immigration reform and propose a plan to cut all
unnecessary federal spending to make the Democrats go nuts. How about starting
with the $2 billion a year Congress spends on Refugee Resettlement?
You can
tell what spending is unnecessary by identifying the political sacred cows. We
see a lot of federal tax dollars being squandered on federal transportation
grants to states for “green space”, roundabouts, bike lanes and parks. No
federal or state tax dollars should go to these. If cities and counties want
this stuff, they should have to raise their own funding.
Trump
should also slam the door on the DACA carping and publish the new Immigration
Law. Trump should fund the wall with the grants to states he will eliminate. I
think if Trump slaps the Democrats around enough, they may settle down and
start making sense.
Trump
needs to turn over federal lands, education and infrastructure to the States.
We need to demand that the State infrastructure dollars we do spend have
simple, solid designs and the lowest cost and fund most of it through city and
county local taxes.
The Fed
needs to keep interest rates at current levels to keep from raising the
interest cost of the annual US federal government deficit until the national
debt is back down to $5 trillion.
What’s
wrong with tabling infrastructure spending until 2019, so we can see how much
we increase GDP in 2018? It’s bad enough
to have $100 billion in weather bailouts to pay in 2018. We also have a $25
billion wall to build as quickly as we can.
The $1.5
trillion tax cut in 2018 means the federal government just cut its revenue by $1.5
trillion. The Budget is based on $4.1 trillion and the $1.5 trillion in cuts is
over 10 years, so the actual revenue cut is really $150 billion a year.
The
corporate tax rate reduction had to be made to allow companies to return
operations to the US. The individual tax rate reduction was not necessary, but
was more politically motivated to send a message to US taxpayers. The real redemption of the taxpayers will be
the return of manufacturing jobs to the US, to give them a chance to rebuild
the middle class.
If the
reforms Trump made in 2018 and those in the pipeline result in a higher GDP for
2018, we can tackle infrastructure in 2019. The Senate is in the tank with the
Democrats on spending an extra $300 billion except for Rand Paul, and you would
think most Republicans in House would also be against it, but they
weren’t. Republicans handed the
Democrats and extra $150 billion for pork and sabotage in exchange for their
promise to stop carping about DACA.
Double Standard
Democrats are saying “We
can blow $10 trillion between 2009 and 2016, but Republicans can’t spend a dime
more than they are willing to raise with new taxes”.
On the $300 billion
spending increase, Democrats are demanding that Congress include an extra $150
billion on social programs or they will oppose the extra $150 billion increase
for the Military.
How about, Republicans
can eliminate funding of every Democrat “sacred cow” and spend that on what
Republicans want to spend the money on. I would quit the UN, stop all foreign
aid, cut all welfare programs for non-citizens, end all federal grants to
states, especially to universities, end all grants to non-profits, sell all
federal land and terminate federal pensions. That works for me. That should
give us more than enough cash to build a wall and it will make the Democrats
crazy.
Norb
Leahy, Dunwoody GA Tea Party Leader
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