Debt reaches record high of $13,868,461,000,000.00

Source: http://finance.yahoo.com/news/Figures-on-government-apf-3395477854.html?x=0&.v=2

Reagan added ~$1,859,575,960,187.32 (in 8yrs – under Dem. Congress)
Bush 1 added ~$1,554,057,922,952.06 (in 4yrs – under Dem. Congress)
Clinton added ~$1,395,974,529,060.68 (in 8yrs – under Rep. Congress)
Bush 2 added ~$4,217,261,484,712.43 (in 8yrs – ~$2,125,246,249,523.44 under Rep. Congress – ~$2,092,015,235,188.99 under Dem. Congress)
Obama added ~$3,536,898,133,979.30 (in 2yrs – under Dem. Congress)

Source: US Department of the Treasury

The national debt has consistently increased since 1958. Prior to that, the debt fluctuated, but no one had truly worked to decrease the debt since Calvin Coolidge in the mid-late 20s.

The reason why tax cuts alone will not decrease the debt, is because there’s excessive government spending and expansion.

Cut taxes and you stimulate economic growth in the free enterprise system that is capitalism. More business equates to more revenue to the government from taxes – less business results in less revenue. It’s simple economics.

People are in business to make money, not lose it. Companies who overextend themselves will eventually go out of business, thus, they look for the best possible circumstance to conduct business. Business owners think in terms of being cost-effective. If moving elsewhere to avoid high taxes means they can stay in business, then that’s what they’ll do. If that happens, government in that district loses money – be it a city, state or nation. This should be common sense to most people.

Carter expanded government tremendously. This lead to higher taxes, which lead to economic collapse. Reagan pulled us out of that collapse at a much faster rate than Obama is right now. Reagan lowered taxes and realized that government was the problem – Obama added more regulations, more expansive government, and more taxes to come, due to new legislation and overspending, and is under the assumption that government is the solution. One method is working – the other isn’t.

Reagan’s method will bring us out of this recession – but we need to stop spending and decrease government, as well. That’s the only thing that will lower the debt. Right now, our social welfare programming is bleeding us dry.

What’s the answer? Cutting popular government programming? As a matter of fact, yes. Cut Social Security, Medicare & Medicaid, as well as the Department of Education, Environmental Protection Agency, Department of Homeland Security, the Internal Revenue Service, the Federal Reserve, federal funding to public radio/television and there are many others… The Department of Defense? Well, it could do with some shaving down… and we could certainly change course in several mission areas, but as of now, in the heated world that we live in, I wouldn’t cut.

The voters want low taxes… not higher spending – The government can’t help but spend, so they print & borrow. Despite what anyone in the Treasury might say… brace for inflation.