I’m so happy to hear someone else say what I have been saying for years.
It’s no longer a time for growing government.
It’s no longer a time for slowing the growth of government.
It’s not even a time for cutting the government a little bit – something even few Republicans are calling for.
It’s a time for slashing and burning, axing and chopping.
That’s what Marc Faber, author of the “Gloom, Boom and Doom” report on CNBC said this week when he said we need to cut the size of government in half to avoid disaster and/or revolution.
Faber argued that Washington – as well as other political systems in the West – would allow the debt burdens to continue to expand. Under such a scenario of never-ending deficits, the Western world would rack up huge deficits.
One day, the system would break, he said.
“Eventually, you have either huge changes occurring in a peaceful fashion through reforms, or, usually, through revolutions,” he said. “I think the timeframe would be within five to 10 years you have a colossal mess … everywhere in the Western world,” Faber said. “I think the deficit here (in the U.S.) – irrespective of who is in the White House – will stay above a trillion dollars per annum for at least as far as the eye can see.”
Bureaucracies in the U.S., as well as Europe, are far too big, he said, and are a burden on the economy.
“My medicine for the U.S. is: Reduce government by minimum 50 percent,” he said. “The impact would be immediately an improvement in the economy.”
Disaster. Revolution. Collapse. These are scary words – or should be to most Americans.
But those are the inevitable outcomes of business as usual in Washington.
When you have dug a $16 trillion hole, the first thing you need to do is stop digging. And the only way to stop digging is to cut spending – fast, immediately, yesterday.
Of course, no one currently running for the presidency is advocating such a position. Not even Paul Ryan, perceived by Democrats as a radical budget cutter, has taken such a position.
The only way we’re going to persuade our elected leaders to develop the courage to take such stands is from the bottom up.
That’s what I have been advocating – nearly alone in the public arena – since January 2010.
In the next month or so, the debt limit will be reached once again.
It’s not a crisis.
It’s an opportunity.
It represents a chance for realism in Washington – realism that is as simple as this: We just can’t continue spending money we don’t have. There are consequences for doing so that are dire.
But that won’t happen without some grass-roots activism – the kind we would expect from the tea-party movement.
We need to flood Washington with letters explaining that cutting government spending and cutting it radically is a good thing. In fact, it’s the only thing we can do other than borrowing money to sustain worthless, unconstitutional, counterproductive and anti-liberty programs, agencies and departments that are bleeding us dry.
In fact, we don’t even have to bother with persuading Democrats on this point. They will never believe it. Spending is in their political DNA. Borrowing is their economic policy.
All we need to do is focus on Republicans and demand they live up to their rhetoric about restoring constitutional government. And we need to start doing it right now.
That’s what my “No More Red Ink” program is all about – flooding Republicans in Washington with red letters urging them not to raise the debt limit – again and again and again. It’s time for them to use their power to stop the borrowing and spending and ignite the cutting that is desperately needed to save American from crashing and burning.
All we need to do is persuade Republicans to say no to more borrowing and the cutting begins.
If you agree, please join me in this crusade to return America to fiscal sanity.