WE MUST GET THE DEFICIT UNDER CONTROL AND GET BACK ON THE ROAD TO A BALANCED BUDGET
We must get our deficits under control and begin to reduce our national debt. Our nation has faced the worst economic recession since the Great Depression resulting in staggering job losses, home foreclosures and economic uncertainly for far too many Americans. If not ourselves, we all know friends who have suffered as a result. To combat this recession and to pay for two very expensive wars, we have been forced into deficit spending of unprecedented levels – levels that have increased our national debt to a dangerous point. We must stop the partisan bickering and immediately begin to deal with these deficits.
To effectively restore our long-term growth and economic strength, I believe real deficit control requires going big, going long and going smart. Going big means finding a minimum of $4 trillion of deficit reductions over the next ten years. Reductions of this magnitude are required in order to decrease the dangerously high ratio of national debt to our gross domestic product that exists today. In addition, we need to go long, using a long-term perspective as we structurally reform both our current expense structure and our tax code. Finally it is very important that we go smart and continue to invest in those areas that will strengthen America within the global economy. Achieving control of our deficits will require a balanced approach, one which will require all Americans to take part in a shared sacrifice. While I do not agree with all parts of the bipartisan Simpson Bowles Commission proposal, I do believe that the framework provided by this group is a constructive starting point for this critical national discussion.
I spent over 15 years investing in and growing businesses across this great country. My business background has given me a real understanding of the importance of being fiscally responsible. It is time to stop playing politics and start developing a prudent, bipartisan plan before it is too late.
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