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Congressman John Campbell

Government Shutdown Day 14

Government Shutdown Day 14: The status of the “negotiations” or of any resolution of this Government Shutdown/Debt Limit debate is as clear as mud. But, it is becoming crystal clear what each side is really fighting over.

It’s not really about any one bill or any one policy. It is about the things that have separated Democrats and Republicans ever since the fall of the Berlin Wall – taxes, spending, deficits and government control of our lives.

As Democrats have been “feeling their oats” in the last few days due to favorable polling data, you have seen them push for the things they really want. They want the “Sequester” to go away. The “Sequester” is the one thing that has reduced spending in recent years, and they want to see spending go back up. The president said in a meeting with Republicans that he wants more tax increases. This demand has been echoed by a number of his surrogate talking heads over the last few days. And, if you listen carefully when the left acknowledges the problems with ObamaCare, you’ll notice that they say its failings are not because the government has been given too much… Read More

Congressman John Campbell

Moral Imperative

I speak often in these pages about things fiscal, financial and economic. Given that I am a CPA and sit on three committees in Congress that deal with money (Budget, Financial Services and Joint Economic), this is to be expected. But, I am not all about money. And, the nation’s problems are not all about money. As big a problem as our debts and deficits are, they are emblematic of deeper and actually more significant moral and cultural issues.

For some time now, we have heard of those who Tom Brokaw dubbed “the greatest generation”, those who sacrificed through a world war to vanquish fascism and imperialism and leave a stronger America for their children. We can go back further to speak of the generation that took the risks to establish this country in the late 18th century or of the generation that fought the Civil War. In each case, said generation sacrificed in order to leave a better and more prosperous country of opportunity for their children.

But, what are we doing now? What will be the legacy of my generation? Our debt and deficit crisis is largely caused by giving ourselves health care and retirement benefits without paying for them.… Read More

Congressman John Campbell

Debt Ceiling Conditions

The president says that we should just extend the debt limit, or cede the authority to him to expand it as he wishes. I’m sure he probably doesn’t think we even need such a discipline at all. He says he will not negotiate on this issue. He says that Congress has already approved all the spending that led to these deficits.

Like on most things, the president is completely wrong.

If credit cards had no limit on them, a whole lot of people would spend without end. The debt limit is like that. It is a discipline that reminds us – “Oh yeah…we’ve just borrowed $16.4 TRILLION. That’s kind of a lot. Maybe we shouldn’t spend so much.” We’ve borrowed 35% ($5.805 trillion) of that since Obama took office. Maybe we ought to think about it before we try to borrow $7 trillion more, which is an approximation of how much more this president wants to borrow in his second term. And, as I understand him, the president won’t negotiate on this. In fact, he has yet to negotiate on anything. No change here. And, as far as Congress already approving the spending….that’s not correct either, Mr. President. Sixty percent of all… Read More