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“Now is Not the Time to Go Wobbly” on the Deficit

Written on Friday, July 1, 2011 by

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michaelreagan

If the GOP is really serious about winning back the presidency they need to win the deficit debate. The government of these United States is broke — flat broke — and if the nation is to survive as the prosperous nation it has long been, Republicans must restore fiscal sanity and call a halt to spending money we don’t have!

That’s what the Republicans promised us they would do last November, and largely on the strength of that pledge we let them take back the House. After all, it’s obvious that we can’t trust the Democrats to spend the public’s money wisely and well.

President Obama is promising to seek $3 in spending cuts for every $1 of new taxes, exactly as my father Ronald Reagan sought to do. When he passed away in 2004 he was still waiting for that $3. Barack Obama can expect the same dismal outcome.

Ask the first President George Bush how it worked out when he cut a deal with the Democrats in 1991 to reduce the deficit by $500 billion. All he had to do was go back a little on his “Read my lips — NO NEW TAXES” pledge and raise taxes just a little bit.

The Democrats promised not to use the tax issue in the 1992 elections. They promptly hung President Bush with it. So I say to the Republican leadership, as Margaret Thatcher once said to GHW Bush, “Now is not the time to go wobbly.” Stick to your guns and call a halt to spending nonexistent dollars.

Unlike the Democrats, who have long been able to win elections by buying votes with lavish government programs paid for with phantom dollars, Republicans have for the most part demanded that fiscal sanity play a large part in determining the wisdom of enacting new programs or financing existing ones.

Democrats have no problem with spending what I like to call “tomorrow money,” big bucks stolen from future generations, who aren’t around to protest having enormous debt loads placed on their shoulders even before many of them have even been born.

Tragically, we have now reached the point where it’s time for Peter –that’s this generation — to pay Paul, yet unborn, by paying for the cost of government programs with today’s dollars. That would require that we stop spending tomorrow’s dollars. Of course, in that case Democrats would start losing elections.

In this era of the Obama recession, Republicans had better stiffen their spines, stand erect and challenge Obamanomics before the president drags us over an economic cliff.

As I said, for the GOP, this is no time to go wobbly.

Michael Reagan is the son of President Ronald Reagan, a political consultant, and the author of “The New Reagan Revolution” (St. Martin’s Press, 2011). He is the founder and chairman of The Reagan Group and president of The Reagan Legacy Foundation. Visit his website at www.reagan.com, or e-mail comments to Reagan@caglecartoons.com.

©2011 Mike Reagan. Mike’s column is distributed exclusively by: Cagle Cartoons, Inc., newspaper syndicate. For info contact Cari Dawson Bartley. E-mail Cari@cagle.com, (800) 696-7561.

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  • http://http/aol.com sean murry

    now is the time to grow a set of balls.

    • CDD

      But alas, the GOP will go wobbly. Bohener will tell us that “compromise was the right thing to do…(when’s my tee time???)” or
      “it was the best we could do in the face of this growing crisis” Even if the GOP holds their ground, Obama will only pervert the 14th. amendment to do whatever he wants to anyway!! THEN WHAT?!?!?! Do you really think that there are enough people in Washington with the balls to stop him, let alone IMPEACH him?!?!?!

  • PAT

    DO NOT RAISE DEBT CEILING. JAIL OBAMA THE DOMESTIC ANTIAMERICAN TERRORIST. WISH REID AND HOLDER WERE OUT OF THE WAY FOR IMPEACHMENT AND FBI CHARGES OF FRAUD FOR FAKE BC,FAKE SSNS, MANY CORRUPTION AND FRAUD CHARGES. WISH ALL VOID AND START OVER.STOP SPENDING FUTURE MONEY. WAY TOO MUCH DEBT. BALANCE LOWEST BUDGET NOW.FIRE CZARS.STOP CRAZY SPENDING,EPA REGULATIONS TO NOT PUT UP ROADBLOCKS TO ALL ENERGY DEV.ELIMINATE ALL USELESS DEPTS LIKE FED ED, COMMERCE, EPA, ICE,ENERGY, IRS, JUSTICE,RESEARCH,DEAD POETS,ANYTHING UNNECESSARY,DUPLICATED,AND A FAILURE.NO PENSION TO OBAMA, ONLY JAIL.TURN OUR COUNTRY AROUND, SAVE AMERICA.NO SHARIA.ENGLISH NATIONAL LANGUAGE ONLY.NO MORE FREEBIES. WORK FOR A LIVING.NO HAMAS HERE.NO ILLEGAL ALIENS.CLOSE ALL BORDERS. ALL MILITARY HOME TO PROTECT HOME.CLEAN OUT USA. DEPORT ALL DISCOVERED CRIMINALS, DRUGGIES,ILLEGALS,EXPIRED VISAS,ETC. NOW.USA DESERVES BETTER THAN RADICAL,CORRUPT,MUSLIM LIAR IN CHARGE AND GREEDY,UNAMERICAN CRONIES. ALL NEED TO GO NOW.REMOVE O FROM OFFICE.HE IS UNQUALIFIED,NOT NATURAL BORN AND TOTALLY UNFIT FOR ANY OFFICE.SUCH LIES AND TOTAL BS BY SOROS AND LAMESTRAIN MEDIA.AMERICANS SHOULD BE ASHAMED THEY VOTED FOR SUCH AN UNDESERVING IDIOT. O NEEDS TO GO.

  • Washington76

    Actions Speak Louder Than Words, Mr. President
    http://www.youtube.com/watch?v=kiO2iwAgbFs&fe

  • Patriot41

    Thank you Michael for a little common sense and good advice. However, there is very little common sense in D.C. nor has there been much for quite some time, when it comes to spending.

    As for the GOP not going wobbly, that is very hard to ask of them as they have had their legs cut out from under them for so long, they no longer know how to use them. That is what happens to a party when they elect moderates to lead them. They compromise away whatever strength they have before going into a debate, thereby having no legs to stand on. They have not yet learned that you cannot compromise with deceitful opponents !

    It is time for the GOP to make a final stand win, lose or draw. Whether it results in the fate of Custor’s last stand, the Alamo or the defeat of the party, at least they will be going down with honor. That is something that has been missing in the GOP party for a very long time and needs to change NOW. Somehow, I do not believe the citizens of this country will turn their backs on the GOP should it finally stand for what is right for the nation.

  • http://www,donoghue.com William E Donoghue

    When your back is against the financial wall you do three things, not two: (1) you cut expenses, (2) you attempt to increase revenues and (3) you collect your biggest and most collectible receivables.

    America’s largest collectible account receivable is the $4.4 Trillion in deferred income taxes in the $17 Trillion in tax-deferred retirement savings (IRAs, 401(k), etc.).

    That amount is a 100% collectible, 100% liquid and 100% unavoidable debt to the IRS.

    The wishful thinking is that the taxes “will be lower after retirement” is highly doubtful in light of the Democrats spending and insistance on taxing “responsible savers.”

    The miractle of compounding only works if you earn long-term positive returns on your contributions. The fact is that half of the contributions ever made have been lost in bad and mediocre investment strategies thwarted by the past decades’ volatile markets and passive investing preferences.

    If the Feds collected that $4.4 trillion (another similar amount in taxes has been LOST to taxp payments due from taxayers iover the past decade).

    That is enough money to avoid facing raising the debt limit if the bulk of the tax collections go to reducing the debt and to provide taxpayers with a one-year tax amnesty or refund in the form of tax credits which the taxpayers could use to get their financial house in order.

    If $1 trillion were rebated to taxpayers, it would, of course, stimulate the economy but allow taxpayers to buy themselves out of credit card slavery, pay down mortgages, pay for family professional education, move to a new locations where jobs are more readily available, and increase Roth IRA retirement savings. Getting America’s consumers’ financial house in order is a high order priority.

    The Bush Administration was investing such a tax policy change but never acted on it; so is the Obama administration is rumored to be doing so as well but with a 50% confiscation not the 25% rightfully due in taxes.

  • http://espionageaction-actionadventure.blogspot.com stephen russell

    Act now GOP or Tea Party will act & make Moves
    Lead or Follow, or Get Out of OUR way.
    Too much at stake unless U want your kids to be slaves to China.

  • ARMYOF69

    Our voting system needs major revisions.
    Anyone who is receiving aid for any great length of time ,like years, should have no rights to vote. Exceptions made would have to be properly identified, such as disabled veterans. Otherwise those “on they take” will always vote fro their personal interest, and not for the country’s good.