State of Indiana Archives: on Budget & Economy
Tax-and-borrower math will bust us, not lead to prosperity
A robust American economy is vital not only to our national security, but to the preservation of the upward mobility characteristic of the American Dream. At the same time our national debt is out of control & our safety net programs are going bankrupt.
The promises we've made from one generation to the next are all under serious threat. The fact is, we are going to run out of money. It's as simple as that. The math will bust us and the "tax-and-borrowers" aren't being honest about it. We simply can't
afford more credit downgrades, more debt, or more economic instability. There's just no formula to tax and borrow or redistribute our way to prosperity. We have an obligation to hand over to future generations that to which they have been promised;
namely, a country that honors the commitments it has made to our seniors, our children, and our most vulnerable. Policies that ignite private sector economic growth, not higher taxes and more borrowing, are the only way to see those promises through.
Source: 2016 Senate campaign website, HolcombForIndiana.com
Oct 1, 2015
Amend state constitution to require a balanced budget
Fiscal discipline has been the hallmark of the past decade of Indiana governance. Our balanced budgets have led to economic growth, lower tax rates and job creation.
Remarkably, Indiana is one of the few states in the country that does not have a
balanced budget requirement in its constitution. It is a tribute to the public servants in this room that Indiana has adhered to that practice in recent years even though it is not required.
A balanced budget requirement in the Constitution will assure Hoosiers that today and tomorrow Indiana will spend wisely, protect our state from an economic downturn, and unlike Washington, D.C., we won't bury our children and grandchildren under
mountains of debt.
I call on this General Assembly to begin the process of adding a balanced budget amendment to the Indiana Constitution in this session and send this historic reform to the people of Indiana.
Source: State of the State address to 2015 Indiana Legislature
Jan 13, 2015
Reduce government regulations; reduce unemployment benefits
Q: Do you support reducing government regulations on the private sector?
Q: Do you support increased state funding for job-training programs that re-train displaced workers?
Q: Do you support expanding access to unemployment
Q: Do you support providing financial incentives to the private sector for the purpose of job creation?
Q: Should Indiana prohibit union membership & dues being a condition of employment (right-to-work laws)?
Source: Indiana Gubernatorial 2012 PVS Political Courage Test
Nov 1, 2012
Pass the remarkable House budget plan & extend Bush tax cuts
Asked what could be done to cut the $15 trillion federal debt, Lugar, 80, urged the passage of the "remarkable" House budget plan and the extension of Bush-era tax cuts.
Mourdock, 60, called for the elimination of the Energy, Education, Commerce and Housing and Urban Development departments.
Source: Fort Wayne Journal Gazette on 2012 Indiana Senate debate
Apr 12, 2012
Stimulus legislation prevented going into a depression
Coats has criticized Ellsworth for voting in favor of the health care overhaul and stimulus programs. Ellsworth believes the stimulus legislation prevented a worse situation. "We made drastic improvements to save us from going into a depression,"
Coats said voters are unhappy with federal government, and he accuses Ellsworth of being lockstep with his party leaders. "Clearly, a lot of Hoosiers are not happy with what's come out of Washington these last two years.
90% of what's come out has been supported by my opponent," Coats said. "There's a lot of enthusiasm for change in Washington."
Ellsworth said Coats' claim that he has voted in line with Obama and House Speaker Nancy Pelosi 90% of the time is misleading
He said those votes could include anything from naming a post office to honoring a sports team. "I have one of the most independent voting records in Congress, and I had a more conservative voting record than four Republicans," Ellsworth said.
Source: News & Tribune coverage of 2010 Indiana Senate debate
Oct 24, 2010
Voted for bailout, health care law and stimulus bill
Ellsworth attacked Coats for the years he spent lobbying in Washington saying the former senator took stands on issues--including the bank bailout and stimulus funding--based on who paid his law firm the most money. "That's not right for Hoosiers,"
Ellsworth said. "We need people who stand up for us, for Hoosiers and base their decisions on what they hear only from the people back home."
Coats battled back, saying that it was his law firm--not him personally--who represented clients on those
issues. He pointed instead at Ellsworth, saying that the Democrat's votes for the bailout, health care law and stimulus bill put the country in almost insurmountable debt. "I can understand that someone who went to Washington talking like a conservative
here at home--but followed the agenda of Nancy Pelosi and Barack Obama nearly 90% of the time--would not want to come home and talk about that," Coats said.
Source: Louisville Courier-Transcript on 2010 Indiana Senate debate
Oct 22, 2010
Commitment to no new spending unless offset & paid for
Coats said the nation is facing serious problems with the economy as it enters the third year of the recession. "We have not seen light at the end of the tunnel," said Coats. "We have a long way to go."
President Barack Obama's "summer of recovery" has been anything but, Coats said. Coats lambasted
Democrats for spending at a pace that's unsustainable and piling up debt the nation cannot pay back. "There has to be a commitment to no new spending without it being offset and paid for," said
Coats. "No more swiping the credit card and pumping and using debt to finance new spending."
This election, Coats said, needs to be relative to restoring the economy for future generations.
Source: Evansville Courier Press on 2010 Indiana Senate debate
Oct 13, 2010