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Patrick Wiesner on Budget & Economy |
On top of the $19 trillion in Treasury bond obligations, our Congress and the lobbyists have unloaded $5.0 trillion of housing loan guarantees onto the taxpayers plus another $1.2 trillion in student loans. Borrowing and making more promises that our children will pay the bill is the way Washington spends money without voter accountability. This culture can only be fixed by firing incumbents. If we do nothing, and let the debt keep going up, our children will leave.
Patrick takes paying off the national debt as the duty of baby boomers. His plan is simple but requires hard work The US now has a $17 trillion annual economy. We can take 3.0% of our GDP and, every year, put that toward debt reduction. In year one, we will pay off $510 billion. The second year--another $523 billion. If the economy grows at 2.5%, in just under 25 years, the debt will be paid.
Patrick has been in private law practice for 23 years. He is also a Certified Public Accountant. His practice is focused on solving tax and debt problems. Patrick intends to be the Senate expert on the tax code.
A: My biggest concern is the "let's borrow money" culture of Washington DC. I don't think we should have to borrow for college and take 20 years to pay it off; or borrow to own a home and take 30 years to pay it off; or borrow to run our Federal government and never pay it off. I want our kids and their kids to live their lives without owing money. As your US Senator, I intend to move us out of the debt cycle.
A: As Senator, I will start my work on setting budget policy so that we generate surpluses and not deficits; this will give us revenue to pay off our national debt. Second, our tax code needs attention so that compliance is easy. Third, we need to keep lobbyists from drafting laws.
Q: What actions would you take on the budget?
A: My mission is to get our country out of debt. The United States has enough economic power and agricultural wealth to be generous to its citizens and, at the same time, pay for the cost of government. National defense, Social Security, and a safety net for the poor are priorities. Other programs will be limited or cut so that we have enough revenue left to pay off our d