Greetings to our constituents, fellow Floridians, and all Americans, it’s time for our weekly recap and this has been a truly historic week.
For the first time in the history of the United States, our bond rating has been downgraded from AAA to AA+ by Standard and Poor’s. Yes, it is interesting that Moody’s decided the concluding debt agreement reached last Monday was a “holding action” and they shall await our way forward. However, to have America’s credit rating reduced to that of, by example, Belgium, must serve as a wake-up call.
We clearly have an opportunity to do some bigger things with our budget deficit issue. I would recommend we go back into session. I believe the perception of Congress being on a “vacation” is absolutely inappropriate for these times.
We should come together and seek out those deeper cuts to the budget right now. We can go back and push hard for Cut, Cap, and Balance to be passed by the Senate and sent to the President for signature. Quite simply, the Senate Democrats and the President have lost credibility in my assessment, and can no longer be obstructionists.
We should have immediate cuts based on the Government Accountability Office (GAO) report of earlier this year identifying $200-$300 billion of duplicative and redundant programs in Washington. We should cut the corporate/business tax rate to 21% and eliminate loopholes and subsidies, retroactive to January 1, 2011.
We should eliminate capital gains, dividends, and death taxes. All this could be “repackaged” as part of a revised Cut, Cap, and Balance legislation.
It is imperative that we do the business of setting the conditions for economic and job growth in America. And no, Mr. President, that does not mean extending unemployment insurance, giving out more free cell phones, and issuing free birth control pills on the backs of private sector insurance agencies.
Right now, we must restore confidence in our fiscal, tax, and regulatory policies. We must seek to open access to capital for our small business owners. And, most importantly, we must give certainty to our free market/free enterprise system. No more class warfare rhetoric of “shared sacrifice” or “paying fair share” or “corporate jets.”
Which of course begs the question, “How many corporate jet owners attended the President’s inexpensive little birthday party?”
We should return back to Capitol Hill and stop this status quo August “recess” in order to complete work on the appropriations bills.
Yes, we are indeed rather dysfunctional and I want to do more, but it will take a series of at least three election cycles to right the aircraft carrier called the United States federal government… and it does take five miles to turn an aircraft carrier.
We must show the world, Standard and Poor’s and the American people that we got the message and we as a Congress shall not sit by idly.
As a final note, my sincere condolences go out to the United States Special Operations and Afghanistan National Army troops who were killed this past week in Wardak Province, Afghanistan when their CH-47 Chinook helicopter was shot down. It brought back memories of Operation Redwing back in 2005 (the basis for the book “Lone Survivor”) when we had the same thing occur. God be with these fine young men and welcome them into His loving arms.
Now, we need to take the gloves off and make these illegal enemy combatants pay dearly.
Steadfast and Loyal,