The United States Government will take in about 1,400,000,000,000 dollars in taxes this year. That is 1 trillion, 400 billion. No government in history has ever had so much income. The government will still run a deficit of at least a 250 billion dollars.
The quarter trillion dollar deficit is part of the Republican budget plan, which they claim will lead to a balanced budget by the year 2002. It is hard to see how. The Republican Budget Plan includes planned deficits every year through 2001, and phases in a 33% increase in government spending over seven years.
As Rep John Kasich pointed out in the budget debate, the Republican Plan does not call for cutting government spending. Over the last 7 years, the Federal Government has spent 9 trillion dollars. Over the next 7 years, the Federal Government will spend 12.1 trillion dollars.
Rep Kasich estimates that by the time the Federal Government achieves a Balanced Budget, the National Debt will be as much as 8 trillion dollars. A Government facing bankruptcy cannot continue its operations at the present level, but must be cut back in an expeditious manner.
It is merely prudent to end Federal grants to the states for welfare, education, law enforcement, and public works. The Republicans only call for consolidating all program grants into block grants, continuing to maintain the Federal role as Tax Collector for the state governments.
The Democrat Party continues to support expansion of all the Federal programs, and proposes a 7 year budget plan in which the Federal Government would spend 13.1 trillion dollars.
The Libertarian Party offers an alternative for millions of overtaxed, overregulated Americans. Libertarians call elimination of all Federal Government activities other than national defense and Federal Courts. Libertarians call for an end to the Income Tax, and a Federal Budget brought into balance by spending cuts, not tax hikes.
For information on the Libertarian Party call (202) 333-0008 or write: The Libertarian Party, 2600 Virginia Ave., NW, Ste. 100, Washington, DC 20037.