Today, the White House announced the budget deficit would reach a half a trillion dollars by 2009. A-HALF-A-TRILLION! The national debt has nearly doubled during Bush's tenure in office. Of course, this isn't all Bush's fault. The Congress holds it's share of blame. But how does something like this happen?
Democrats and Republicans love to spend our money. The question in how to pay for it. Republicans cut taxes, increase spending and amass enormous deficits, putting the long term fiscal health of our country in serious jeopardy. Democrats raise taxes, increase spending and cripple the American economy by transferring wealth from the private sector to the public one. Both strategies are a recipe for disaster. And we are on the brink.
Democrats have to realize that we can't afford to do all the things they want to do. And Republicans must realize that we have to pay for what we get. Don't pass the debt to future generations. Pay for it today. So as a society we have to decide what we want and how to pay for it. If we want new roads, we have to pay for them. If we don't want that new social program, then we need to oppose the new taxes to pay for it.
Of all the Republicans who vied for the nomination, John McCain is the best one to deal with this issue. He's spent his career fighting the pork barrel spending and has a "pay as you go" attitude. And he's certainly better than Obama. Obama will raise taxes and increase spending. Which is the last thing we need.