Our $ Funded Bailouts Must End

From the Heritage Foundation,"Late Saturday night President Barack Obama sent a letter to the leadership of the House and Senate urging them to approve a tax and spending bill currently being debated in the Senate that already would add $80 billion to our nation's budget deficit. But coming off of last year's $862 billion stimulus, President Obama is not happy with just another $80 billion in debt for this year. He also requested another $50 billion in deficit spending earmarked for bailing-out state and local governments. Without this "emergency" money, the President claims thousands of government union jobs would be lost."

"Last week Gallup reported that "Federal government debt" was the issue that most threatened the future well-being of the United States. Our nation's record deficits are largely driven by the record spending increases of the last decade and the last year in particular. There is a way out of this deficit nightmare: stop spending. If the federal government managed to return to the per-household spending level of the Reagan administration, the budget would be balanced by 2012 without any tax hikes. Or just returning to the per-household spending levels that existed before the current recession would balance the budget by 2019."