Thursday, May 12, 2011

News Update: Grover Norquist on Debt Limit Debate


If you thought the healthcare debate was intense, you haven't seen anything yet. The debate over increasing the debt ceiling is potentially the most important and biggest debate we have seen yet.

President Obama has released some of his ideas on lowering the deficit. Of course, he and the Democrats have the same old ideas that liberal have always had--tax and spend. The Obama administration wants to eliminate tax credits, raise taxes, and that's pretty much it.

As far as eliminating tax credits is concerned, don't be fooled by the Democrat's "hard-line stance" against "Big Oil." The credits they really want to eliminate go to small companies who drill exploratory wells looking for new sources of oil. As Mark Levin explained on his program last night, these tax credits were put in place for the express purpose of encouraging businessmen to take risks to find new sources of energy. 

Why would Congress do such a thing? Let's put it this way, it is an economic fact that the greater the supply of oil, the lower the price paid at the pump. So, Congress offered these tax incentives as a way to encourage individuals to increase the oil supply and, in turn, lower prices paid by consumers.

I guess the president and his Democratic colleagues aren't really doing anything that disappoints them. Certainly, they know the facts of simple economics. Simple economics and low gas prices for the American people isn't their primary concern. Instead, it is pursuing policies that punish America's success and redistributes wealth to other countries. For an example, think cap and trade. Also, recall that Obama said that under his plan energy prices would "necessarily skyrocket." 

Whatever their intentions, it is safe to say that the Democrats are totally unwilling to give up their government largesse in order to reign in spending. In fact, this has been their whole plan all along--to greatly increase the size of government through ballooning bureaucracy and spending.

As Norquist, President of Americans for Tax Reform, points out, Republicans better hold the line on raising the debt ceiling. Normally, people say such things in relation to holding the line so one can be reelected. In this instance, the GOP should have more in mind that simply being reelected. They must keep in mind that we are in a fight for our future. Our debt and spending habits are simply unsustainable and must be controlled.

Now is the time for the fight! Draw a line in the sand and stand firm! 

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