Are President Obama and Congress Serious About U.S. Fiscal Crisis?

President Obama’s National Commission on Fiscal Responsibility and Reform announced Tuesday that it would hold its first meeting on April 27^th.  The purpose of the commission is to address our nation’s near- and long-term budget crisis, which has now reached near epic proportions.

The Congressional Budget Office recently revealed that interest on the national debt will become the single largest line item in the U.S. annual budget within 12 years.  This was before Congress passed the new entitlement program that will add billions more to our debt in the near-term.  It also assumes low interest rates, which most experts believe is improbable.

To put this in perspective, the best-case scenario is that in 12 years, and realistically in fewer years, interest payments on the debt will exceed expenditures for all other single purposes including national defense, Social Security, and Medicare.  How could this happen?  Because we have continually elected professional politicians who are more interested in cutting deals to get reelected than in implementing meaningful budget reform.

The creation of President Obama’s fiscal commission is a perfect example.  Senate Majority Leader Reid and Speaker Pelosi refused to establish a Congressional commission that would develop recommendations to present in a straight up or down vote before Congress.  President Obama declined to use his political capital to push this legislation through, instead focusing his attention on worsening our country’s financial condition by creating a new entitlement program for 32 million people.

President Obama’s commission will develop a plan and present it to Congress later this year – in time for the President to stand before the American people to proclaim he cares about this issue.  If only he were serious.  If only he had used his position to reduce the deficit instead of making it worse.

I have served in the military, held a top secret security clearance, and engaged in critical missions.  Our nation is in desperate need of leaders who will devote their lives to addressing the monumental issues that face us.  You have my duty-sworn pledge to attack the political pandering that has led to our great country being on the brink of self destruction.  You have my word that I will stand up to the professional politicians in both parties who put self interest before the people’s interest.  We as citizens must take back our country by force at the election box, and you have my word that I will carry through with the mission until the job is complete.

Rick Crawford Blasts House Congressional Leaders for Intimidation Tactics

Rick Crawford today called on Speaker Pelosi and other Congressional Democrats to cease employing abusive intimidation tactics against American companies that are required by law to report adverse financial conditions to pension funds, mutual funds, individual stockholders, and other investors that own company shares.

“At Speaker Pelosi’s direction, House Democratic committee chairmen are lining up public interrogation sessions for some of our nation’s leading job creators, including John Deere, Caterpillar, AT&T, and Verizon Communications,” said Crawford.  “Instead of attacking the great American companies who provide tens of thousands of jobs, Congress should be taking a hard look at the true costs of the new healthcare entitlement program.”

Friday House Energy and Commerce Chairman Henry Waxman and Energy and Commerce Oversight and Investigations Subcommittee Chairman Bart Stupak wrote to the heads of John Deere, Caterpillar, AT&T, and Verizon Communications requesting that the companies testify in sworn statements before Congress.  The letters request specific information about accounting methods, emails among senior company officials, and comes with the implicit threat that subpoenas would be issued for companies that refuse to comply with the Congressional request.  The information is due by April 9, 2010, and the hearings are set for April 21, 2010.

Waxman’s call for hearings came after Speaker Pelosi told Democrats to go on the “offensive” in defending and calming public doubts about the new entitlement program.

“This liberal Congress seems to be friendlier toward prisoners at Guantanamo than American job creators,” concluded Crawford.  “Especially during an once-in-a-lifetime economic recession, we should be seeking to work with businesses, not trying to cripple and intimidate them.  I believe that we would have been much better served if Congrress would have focused on creating jobs and addressing the national fiscal crisis rather than spending money we do not have on a new entitlement program for 32 million people that will only put government between us and our doctors.”

Social Security Tipping Point

The news this week from the Congressional Budget Office (CBO) about Social Security is sobering.  For the first time in the program’s history, it will pay out more in benefits than it receives in contributions.  CBO had predicted this “tipping point” would not occur until 2017.

The news highlights Washington’s untruthfulness about what it has been doing with the surpluses all these years.  In a number of stories I read about the earlier-than-expected deficit, government officials were quoted as saying the program is in no immediate danger because there is a $2.5 trillion trust fund.  Really!?  A trust fund with actual money in it?

But, of course, we all know this is not true.  The truth is that the politicians we elected through the years spent every dime of the surplus money.  Consequently, not only is the $2.5 trillion not sitting in a “trust fund” somewhere in Washington, but these same politicians spent another $12.5 trillion MORE than they had in revenue.

Unfortunately it gets worse.  The sum of the U.S. government’s unfunded promises is $56.5 trillion…and growing by roughly $3 trillion each year.  That is $340 million an hour!

What impact will this have on our economy?  Will foreign governments at some point decide lending to the U.S. is risky? Is this sustainable?  How will it impact our children and grandchildren?

The answer to each of these questions is heartbreaking.  But while our political “leaders” have not been truthful, we must also accept responsibility.  If we do not engage in the debate, if we do not rise up to elect leaders who will force Washington to change its ways, if we do not act on the principle of “government by the people,” then we will in fact leave our children and grandchildren a country in complete financial ruin.

I think it is clear that we can no longer trust professional politicians to take the bold action that is needed.  All of the other candidates in the race for Arkansas’ First Congressional District have spent their lives in politics.  Please join me in bringing real change to our government.  Not more entitlement spending that we cannot afford, not more pandering about “I’m for YOU!” but someone who will vote to put our financial house back in order so that we do not leave a catastrophe for our loved ones.

My wife Stacy and I feel passionate about this and we just can’t imagine doing this to our children.  Please join us today in making a difference.  Join my facebook page, forward this article to others you think care about our future, and, if you are so inclined, consider a small financial contribution that will help me buy radio and TV time to communicate this message to a broader audience.

Respectfully,

Crawford Chides State Democratic Party for Lurching to Change Subject from Healthcare

Rick Crawford today called Gabe Holmstrom’s PR stunt a blatant attempt to divert attention away from President Obama’s creation of a massive new entitlement program.  “Gabe is an incredibly clever political operative,” said Crawford.  “Changing the subject is something our politicians and their spinsters have been doing for far too long.  Instead of talking about the fact that every man, woman, and child in America each owes $184,000 as their share of the unfunded promises our politicians have made, Mr. Holmstrom wants to talk about the President’s birth certificate.”

“The sad fact is that Congressman Berry, who voted for and against this massive new entitlement program, wants to avoid addressing the long-term financial problem facing our country,” continued Crawford.  “While he talks about balancing the budget back home, he has enabled Speaker Pelosi and President Obama to push through a massive new entitlement program that will use taxpayer money to pay health insurance premiums for 32 million Americans.  We need elected officials who will stand up and say, ‘STOP!  Stop digging the hole deeper.’  We need an elected official who will stand up to say our government will not expand or create any new government programs until we restore fiscal soundness.  If we do not do this, our children and grandchildren will pay taxes that are double or triple what we pay today…and that is the best-case scenario.”

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