One Party Rules on Budget Matters

Washington DC

Democrats have set our country on a course of fiscal disaster by voting to pass President Barack Obama’s unsustainable budget.
Rather than getting spending under control, the Democrat budget sends spending out of control.
Putting all the sacrifice on future generations this budget borrows against our children and their children and relies on raising taxes to pay for the excesses.
The Democrat’s proposed solution for our current fiscal crisis does not fix the economic state of affairs but makes it much, much worse.
In an effort to prop up their explosive spending the Democrat budget borrows more in one year than the previous 200 years of our country’s history.
The result of their out of control spending is an ever higher national debt that is on course to triple in ten years.
Offering a better choice for Americans, the Republicans produced a budget that curbs spending, creates jobs, lowers taxes and controls the debt.
The Republican budget freezes discretionary spending for five years and prioritizes national defense and veteran’s healthcare.
The Republican Road to Recovery stands in stark contrast to the Democrat budget.
The drunk on power Democrats ignored all Republican budget proposals by shutting them out of the process and voted down every amendment proposed by Republicans.
One party rule in Washington, D.C. will have disastrous consequences for Americans.

Olympia

Thirty-one economists have signed an open letter to state elected officials warning that tax increases will damage our states recovery and hamper economic recovery.
This comes as lawmakers grapple with a large budget shortfall and are considering tax and fee increases rather than prioritizing spending which families all across Washington are doing now.
“Leaving earnings in the hands of individuals and businesses is the best way to help grow the private sector, create jobs and lead to higher levels of consumption,” the letter states. “Increasing taxes at this time will shift necessary capital from the private sector to the public sector, thereby depriving private enterprise of the source of true economic growth and making Washington state even less competitive for new businesses and jobs.”
“There is nothing in modern economic theory that bestows special status to any government spending,” says Douglas Wills, Associate Professor of Economics at the University of Washington in Tacoma. “For the state government to maintain expenditures in the face of declining revenues implies increased taxes on current citizens, future citizens, or, as is more likely, on both. By reducing expenditures during this time the government is doing exactly what any responsible household would do.”
Even as the economy has deteriorated, peoples’ property tax burden has grown; the Business & Occupation Tax falls hardest on small businesses, discourages growth, and takes money even when a business makes no profit; and the sales tax discourages one crucial aspect of economic recovery: consumption. Exacerbating these problems is not the solution to the state’s budget problem.
“The state revenue forecast indicates we are mired in recession,” said Dann Mead Smith, President of Washington Policy Center. “The last thing lawmakers should do is inhibit our economic recovery by raising taxes and damaging our ability to turn the economy around.”
Washington Policy Center