Joe Walsh on Budget & Economy
Republican presidential primary challenger (former IL Rep.)
Joe Walsh: Nothing disappoints me more than this. I mean this is why I went to Congress eight years ago because we're bankrupting future generations. We are bankrupting future generations in this country. Both parties do it. When Obama was president, all of us Republicans screamed and howled every day about Obama increasing the debt and the deficits. Trump has actually increased the debt faster than Barack Obama did. Think about that: Trump has increased our deficits faster than Obama has. But all of my former Tea Party colleagues in Congress--what do we hear from them? Not a damn thing. Again, just one more example of the Republican Party now face fealty to Trump and they've forgotten about every issue that they've claimed to believe in.
Since the end of last year, our Federal Government has gone on a spending spree unlike anything seen in human history. President Bush started the ball rolling with the TARP program and President Obama doubled down with his pork-laden omnibus spending bill and the wasteful stimulus package. All the while, our deficits mounted and we continue to pile on more and more debt. If something isn't done soon, we'll literally be bankrupting our kids and grandkids and robbing them of all the opportunities that this country has offered to us.
It is time to return our Federal Government to its first purposes. In Washington today, the government is trying to regulate, control, or tax every aspect of our lives. I want to go to Congress to put a huge "STOP" sign up in front of this runaway train of government spending.
Proponent's Argument for voting Yes:
[Rep. Biggert, R-IL]: The HAMP Termination Act would put an end to the poster child for failed Federal foreclosure programs. The program has languished for 2 years, hurt hundreds of thousands of homeowners, and must come to an end. This bill would save $1.4 billion over 10 years. To date, the HAMP program has already consumed $840 million of the more than $30 billion of TARP funds that were set aside for the program. For this extraordinary investment, the administration predicted that 3 to 4 million homeowners would receive help. HAMP has hurt more homeowners than it has helped. The program has completed about 540,000 mortgage modifications. Another 740,000 unlucky homeowners had their modifications cancelled.
Opponent's Argument for voting No:
[Rep. Capuano, D-MA]: This is a program that I'm the first to admit has not lived up to what our hopes were. This program we had hoped would help several million people. Thus far we've only helped about 550,000 people. But to simply repeal all of these programs is to walk away from individual homeowners, walk away from neighborhoods. I'm not going to defend every single aspect of this program, and I am happy to work with anyone to make it better, to help more people to keep their homes, & keep their families together. To simply walk away without offering an alternative means we don't care; this Congress doesn't care if you lose your home, period. Now, I understand if that makes me a bleeding-heart liberal according to some people, so be it.
The Contract from America, clause 3. Demand a Balanced Budget:
Begin the Constitutional amendment process to require a balanced budget with a two-thirds majority needed for any tax hike.
The Contract from America, clause 6. End Runaway Government Spending:
Impose a statutory cap limiting the annual growth in total federal spending to the sum of the inflation rate plus the percentage of population growth.
This article shall take effect beginning with the later of the second fiscal year beginning after its ratification or the first fiscal year beginning after December 31, 2016.
Prohibits the use of funds appropriated or otherwise made available under the American Recovery and Reinvestment Act of 2009 (ARRA) for physical signage indicating that a project is funded by such Act.
Under appropriations for FY2012 and FY2013, the total amount available for administrative expenses of an affected agency shall be the amount that would otherwise be available, reduced by 50% of the amount reported to have been expended before the enactment of this Act for such signage.
Requires the head of each affected agency to deposit such reduction amount in the general fund of the Treasury for purposes of deficit reduction.
A BILL: To rescind unobligated stimulus funds and require that such funds be used for Federal budget deficit reduction. This Act may be cited as the "Recovering Excessive Stimulus Expenditures for Taxpayers (RESET) Act."
[The Cut-Cap-and-Balance Pledge is sponsored by a coalition of several hundred Tea Party, limited-government, and conservative organizations].
Despite our nation's staggering $14.4 trillion debt, there are many Members of the U.S. House and Senate who want to raise our nation's debt limit without making permanent reforms in our fiscal policies. We believe that this is a fiscally irresponsible position that would place America on the Road to Ruin. At the same time, we believe that the current debate over raising the debt limit provides a historic opportunity to focus public attention, and then public policy, on a path to a balanced budget and paying down our debt.
We believe that the "Cut, Cap, Balance" plan for substantial spending cuts in FY 2012, a statutory spending cap, and Congressional passage of a Balanced Budget Amendment to the Constitution is the minimum necessary precondition to raising the debt limit. The ultimate goal is to get us back to a point where increases in the debt limit are no longer necessary. If you agree, take the Cut, Cap, Balance Pledge!
I pledge to urge my Senators and Member of the House of Representatives to oppose any debt limit increase unless all three of the following conditions have been met:
- Cut: Substantial cuts in spending that will reduce the deficit next year and thereafter.
- Cap: Enforceable spending caps that will put federal spending on a path to a balanced budget.
- Balance: Congressional passage of a Balanced Budget Amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.
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2020 Presidential Democratic Primary Candidates:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)
2020 GOP and Independent Candidates:
Rep.Justin Amash (Libertarian-MI)
CEO Don Blankenship (C-WV)
Howie Hawkins (Green-NY)
V.P.Mike Pence (R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump (R-NY)
V.C.Arvin Vohra (Libertarian-MD)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld (L-NY,R-MA)
External Links about Joe Walsh:
2020 Withdrawn Democratic Candidates:
State Rep.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)