Guide to the State Budget
Who's my Legislator?
|I'm mad and not going to take it any more|
Governor Romney delivered a resounding message in the debate Wednesday that, as a CPA, I believe is a test that every person serving in Congress should use before spending OUR money in Washington DC.
"Is this program so critical it's worth borrowing money
from China to pay for it."
This should be a concern that all Americans understand and share. The Treasury Department estimates that our debt - just to China - is approximately $1.16 trillion. That is nearly $15,000 the average American family owes to the country of China.
On Monday, October 1, 2012,
the federal government began a new fiscal year.
Fiscal Year (FY) 2012 ended in the same shameful manner as Fiscal Years 2009, 2010, and 2011: with the federal government borrowing more than $1 trillion just to keep operating.
Since President Barack Obama took his oath of office, our national debt has grown by more than 50%. Today, as Americans, we owe over $16 trillion - a burden our children and grandchildren will find unbearable and there is nothing to indicate this president is willing to make the difficult leadership decisions necessary to curtail that staggering rate of increase.
As a result of lack of financial competence and leadership, our national debt now exceeds $50,000 per person. That's per person, not per taxpayer.
We can't go on like this.
In 1976 actor Peter Finch played the role of a nightly news anchor who was so distraught with what was then happening in the world, he left his anchor desk, went to the window and shouted an outburst made famous in movie history. The TV Reporter rants, "I want you to get up right now and go to the window, open it, and stick your head out, and yell, I am mad as hell and I'm not taking it anymore." Peter Finch went on to win an academy award and his famous speech continues to rate high on inspirational movie speeches of all times.
November 6th, Election Day makes me feel the same way. Our flag is being trampled upon and burned around the world, our ambassador to Libya is murdered along with some of our finest military service personnel, citizens can't find jobs, including many recent college graduates, personal incomes have declined, especially among middle income workers, and welfare rolls are swelling to heights unimaginable even in prior recessions. Add to that, the lack of confidence in our President in managing our future and his demonstrated inability to lead this nation to any significant, measurable accomplishment in the last four years, and we all have reason to be mad.
If we fail to act, Barack Obama will continue to live at 1600 Pennsylvania Avenue for another four years and the burden placed on future generations will be immeasurable. Also, if the Democrats continue to control the United States Senate with Harry Reid, the fiscal irresponsibility and gridlock that has dominated the last four years will only compound our perilous situation. Instead of offering leadership, they have heaped scorn and derision on those who have been fighting for fiscal sanity.
In Virginia, we are accustomed to fiscal responsibility. We balance our budgets and place resources in our Rainy Day Fund to insulate our government from economic downturns. When there have been budgetary shortfalls, we have made the tough decisions necessary to prioritize spending on core government services, ensuring that we provide value for taxpayers' dollars. As President pro-tempore and Chairman of the Finance Committee of the Virginia Senate, I would consider my leadership an abject failure if Virginia had followed the lead of the U.S. Senate in not even being able to adopt a budget (let alone one that actually balances) in almost four years. What a mess we have in Washington and absolutely no leadership coming from the White House.
President Obama and his fellow Democrats have repeatedly demonstrated their unwillingness to behave in a fiscally responsible manner. Their interests are immediate; their leadership is based on dividing our country from within and America from our world allies. They just want to get through the next election with no concern about the next generation. I have four grandchildren and now a newborn great granddaughter. I really care what happens to them and and all of our future generations and that's why I am mad - "mad as hell", as Peter Finch expressed his dissatisfaction in that famous movie. Now is the time to elect real leaders, not just those interested in a political job.
Before voting on November 6th,
please consider some of the following statistics:
- The U.S. national debt rises at an average of approximately $3.8 billion per day.
- The U.S government now borrows approximately $5 billion every business day.
- The U.S. government has to borrow 43 cents of every dollar that it currently spends
- If the federal government began repaying the national debt at a rate of $10 million dollars a day it would take approximately 3,800 years to pay off the national debt
- The U.S. government is borrowing approximately $2.63 million more dollars every single minute.
- It is being projected that the U.S. government will be paying $900 billion dollars - just in interest on the national debt by the year 2019. Just think of how many teachers or college tuition, or healthcare for the elderly and disabled we could pay with $900 billion.
With our nation's future at stake, please get mad too, and join me in standing up for fiscal responsibility and a change in direction of our entire Country. We can do that by voting for Mitt Romney, Paul Ryan, Eric Cantor and George Allen on Tuesday, November 6th.
The races are tight. Your vote and those you can influence will make all the difference in whether we take our country to world leadership and fiscal soundness.
If you have questions or should need additional information please contact my office or a Romney Victory office.
Senator Walter Stosch
4551 Cox Road Suite 110
Glen Allen, Virginia 23060
Authorized and paid for by Friends of Walter Stosch