In the Wall Street Journal this morning, Rep. Paul Ryan (R-WI), released “A Road Map for America’s Future“, which outlines a Republican plan to fix America’s great entitlements in Medicare and Social Security, as well as reform the tax code and health care.
The difference between the Road Map and the Democrats’ approach could not be more clear. From the enactment of a $1 trillion “stimulus” last February to the current pass-at-all costs government takeover of health care, the Democratic leadership has followed a “progressive” strategy that will take us closer to a tipping point past which most Americans receive more in government benefits than they pay in taxes—a European-style welfare state where double-digit unemployment becomes a way of life.
Americans don’t have to settle for this path of decline. There’s still time to choose a different future. That is what the Road Map offers. It is based on a fundamentally different vision from the one now prevailing in Washington. It focuses the government on its proper role. It restrains government spending, and hence limits the size of government itself. It rejuvenates the vibrant market economy that made America the envy of the world. And it restores an American character rooted in individual initiative, entrepreneurship and opportunity.
The U.S. just raised its debt ceiling to $14 trillion and that kind of debt is unsustainable. If we do not fix it, we are going to lose investors in this economy as they look towards China, the Asian Tigers, and other markets.
We only assume that we will always be strong and people want access to our markets – but if we start to look like a debt risk, foreign investment – which is the only thing propping our nation up – will cease. When that happens, we will go into an incredibly sharp decline.
We must get the debt under control now…and a pittance of a spending freeze is not the way to do it.
Kudos to Ryan for releasing his plan. Let’s hope some fiscally responsible Democrats recognize the horror of what’s been going on under Bush and Obama and quickly make some changes.
