- Oct 7, 2011
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Around kitchen and boardroom tables across the state, Michigan families and businesses are figuring out their budgets for the year, deciding where to cut, where to grow and what should stay the same. Unlike these responsible Americans, Debbie Stabenow and Senate Democrats have decided to fly blind. In fact, today marks the 1,000th day since Senate Democrats passed a budget.
To put 1,000 days in perspective, there was no such thing as an iPad when Debbie Stabenow last passed a budget. General Motors had never declared bankruptcy, and our national debt was $4 trillion smaller.
A budget serves as a financial blueprint for the government and lets taxpayers and employers know how the government is going to impact their bottom lines. Knowing what the tax rates are going to be in the next 12 to 24 months is critical to small business owners as they look to expand. Will they have enough after-tax income to be able to grow or will the tax structure be changed in a way that makes job creation more difficult? This uncertainty discourages the risk-taking necessary for the American entrepreneurial spirit to flourish.
Moreover, without a budget, spending increases, as there is no restraint, no boundaries. By writing and passing a budget, we can identify the funding that must be prioritized, while separating out and eliminating the pet projects and irresponsible spending of our hard-earned tax dollars. As we begin to curb federal spending, we can work toward lower, more reasonable tax rates. Passing a balanced budget would also be the first step toward reducing our mountainous debt and putting our economy back on the path toward growth.
Read more: A dubious milestone | The Daily Caller
To put 1,000 days in perspective, there was no such thing as an iPad when Debbie Stabenow last passed a budget. General Motors had never declared bankruptcy, and our national debt was $4 trillion smaller.
A budget serves as a financial blueprint for the government and lets taxpayers and employers know how the government is going to impact their bottom lines. Knowing what the tax rates are going to be in the next 12 to 24 months is critical to small business owners as they look to expand. Will they have enough after-tax income to be able to grow or will the tax structure be changed in a way that makes job creation more difficult? This uncertainty discourages the risk-taking necessary for the American entrepreneurial spirit to flourish.
Moreover, without a budget, spending increases, as there is no restraint, no boundaries. By writing and passing a budget, we can identify the funding that must be prioritized, while separating out and eliminating the pet projects and irresponsible spending of our hard-earned tax dollars. As we begin to curb federal spending, we can work toward lower, more reasonable tax rates. Passing a balanced budget would also be the first step toward reducing our mountainous debt and putting our economy back on the path toward growth.
Read more: A dubious milestone | The Daily Caller
