Re: Debt Is Holding Back Economic Growth

What I have not heard is specifics. I believe we have had enough agreements to reduce the deficit. Both parties have historically spent more than we took in and the current president is no more responsible for the deficit than previous presidents. I believe it is said Bill Clinton had balanced budgets. I doubt it but that is what I have heard.

It is time for specifics time for hard numbers. It is time to accept that the rich do not create jobs. If they do where are the jobs? They are in other countries. Both parties must change leadership. Current leadership has shown themselves not up to the job. We need new ideas. We need jobs that pay livable wages.   

The last war our military fought for our freedom was WWII. Since then we have defeated small countries and tied or lost to those who can defend themselves. Our military is not the solution. Our military needs to be brought home from around the world and the defense department needs to have a major reduction in their budget.

Economic strength is what will lead now not the military. 

I encourage you and your fellow representatives to stop playing games, appoint new leadership and solve the issues. So far Obama sounds more reasonable than the Republicans do and more ready to compromise. Politics requires compromise. 

Thanks, John Jenkins
865-803-8179  cell
Gatlinburg, TN

Email: jrjenki@gmail.com
Blogs: http://littlepigeon.blogspot.com/ 
          http://alumcave.blogspot.com/

 

No amount of observations of white swans can allow the conclusion that all swans are white, but the observation of a single black swan is sufficient to refute that conclusion.

Karl Popper

On Mon, Jan 23, 2012 at 10:30 AM, Congressman Phil Roe <rep.roe@mail.house.gov> wrote:

Having trouble reading this email? Click here to view in your browser.

Website | About Phil | First District | Constituent Services | Newsroom | Issues | Legislation | Kids Page Debt is Holding Back Economic Growth The national debt continues to rise to ever more dangerous levels and has now reached over $15 trillion – officially surpassing the size of our economy at 100 percent of gross domestic product (GDP).   The unsustainable amount of government debt is so high that it is straining economic growth.  We must get serious about enacting spending cuts that put us on a sustainable fiscal path. Instead of reining in spending, the president has asked Congress to raise the debt ceiling again. That is why this week the House of Representatives will vote on a resolution to disapprove of the administration's request for an increase in the nation's debt ceiling – another "sign of leadership failure," in the president's own words. This vote is in response to the administration's reckless spending binge that has driven America's economy down a disastrous fiscal path and hurt job creation at a critical time for middle-class families and small businesses. Under President Obama's watch, the government has accumulated the three largest annual budget deficits in our nation's history.  Over $4.6 trillion has been added to the national debt since Obama took office, which is the most rapid increase of any president.  Additionally, there was a 25 percent increase in non-discretionary spending by the president when Democrats controlled both the House and Senate.  According to the U.S. Census, every American's share of the national debt stands at $48,699. Economists continue to warn that our nation's economic growth is constrained.  The Congressional Budget Office (CBO) Director Douglas Elmendorf has said that the growing debt puts us at risk for a "sudden fiscal crisis."  CNBC's John Carney recently chimed in about the deficit officially surpassing 100 percent of GDP saying that it "has serious implications for economic theory." He goes on to say that "public-sector debt in the U.S. grew from 58 percent of GDP in 2000 to 97 percent in 2010. That almost certainly puts us beyond the threshold where our debt is restraining economic growth." With the upcoming budget that is due on February 6, the president has another opportunity to offer a serious, credible plan that lays out how we are going to get this country's fiscal house in order.  Congress, along with the president, needs to come to an agreement that leads to stabilization and declines the ratios of federal government debt to GDP and debt to revenue. I came to Congress to get our nation back on track and that includes making the tough decisions that will put us on a path to prosperity.  We must end our annual budget deficits and lower the debt if we want to see sustainable economic growth.  Even the president admits that if we fail to do this, it could lead to a double dip recession.  Now is the time to enact spending cuts because our national security is at risk if we do not lower the deficit. Please feel free to contact my office if we can be of assistance to you or your family.  You can contact my office by mail, email or phone.  Our contact information can be found on our website, www.roe.house.gov.    CONNECT WITH US E-News Sign-up Forward to a Friend Contact Phil TAKE A SURVEY Do you approve of the president's request to raise the debt ceiling?  Yes, we should raise the debt ceiling. No, we should not raise the debt ceiling. I am unsure at this time.            Choose Your Answer Washington, DC Office 419 Cannon House Office Bldg Washington, DC 20515 Phone: (202) 225-6356 Fax: (202) 225-5714 Kingsport Office PO Box 1728 Kingsport, TN 37662 Phone: (423) 247-8161 Fax: (423) 247-0119 Morristown Office 1609 College Park Drive, Suite 4 Morristown, TN 37813 Phone: (423) 254-1400 Fax: (423) 254-1403

Click Here to view this email in your browser
Click Here to be removed from this list