Spending is the Problem.

Friends of the U.S. Chamber of Commerce

http://www.friendsoftheuschamber.com/blog/post/242/spending-is-the-problem

Spending is the Problem

Posted by Chamber Grassroots on February 5th at 4:17pm

We’ve heard political promises and lofty rhetoric from the talking heads telling us that the only way to grow the economy and create jobs is to increase government spending. They tell us that in order to cut the deficit and salvage our entitlement programs, we need to increase revenue through more of your tax dollars.

But as you can see in the chart, we are already at historic levels of government spending and tax revenue. And yet… it’s still not high enough for some.

These tax increases barely make a dent in our spending problem and are already slowing growth. CBO projects the economy will grow by just 1.4 percent this year? Likely, it won’t be long before Washington starts digging into middle-class pockets. Even the staunchest proponents of tax increases admit raising rates to the levels needed to cut the deficit would ruin job creation.

This can’t continue; the math simply doesn’t work. Do you agree?