When Will the Government Stop Over-Spending Our Money?

This is a question that we should all be asking, especially the youth. Government spending has gotten out of control and WE are going to have to pay off the debt some day. I’ve read many articles this week about spending in unnecessary places (don’t we already have a large enough deficit?) Not to mention the current the 9.1 percent unemployment rate. And high unemployment might be beneficial to the Republicans in the next election; they have let it be known that that 2009 stimulus bill was a failure and that the deficit is causing unemployment.

During latest debate former Minnesota Governor Tim Pawlenty suggested that $2 trillion in tax cuts for individuals and businesses over the next decade will drive ‘rapid economic growth’. Pawlenty’s goal, although highly unlikely, is a 5% economic growth rate a year. But do we need that money to reduce the deficit? Will the tax cuts leave little or no money that is needed? He predicted that as president he would request temporary authorization to freeze government spending until the budget is balanced. Pawlenty’s idea is the “Google Test”, if you can find your needed goods and services on the internet, then perhaps the federal government doesn’t need to be involved (like the Postal Service and Amtrak); and that’s where the money will be saved. His plan is for flatter tax rates and eliminating loopholes.

Many might say this is pure fantasy. And it could be true; tax cuts this large could cause many extra problems. There would most likely be large cuts in important programs and services. Pawlenty’s lower rates mimic the tax reform law of 1986.