Barr: Time to cut spending

October 7, 2008

Over at The Hill, Bob writes that it is time to cut spending:

The federal government is broke. The national debt is nearly $10 trillion. The 2009 deficit was expected to run a half trillion before passage of the $700 billion Wall Street bail-out; the red ink this year alone now is likely to run nearly a trillion dollars. The government owes generous pensions to its retired workers; guarantees pensions for private companies that go belly-up; and faces an unfunded Social Security and Medicare bill of a hundred trillion dollars. Where is the money going to come from? Who is going to buy the government’s debt as Uncle Sam sinks ever more into the red?

This isn’t a liberal or a conservative issue. The government can’t keep spending money with wild abandon. We certainly can’t afford to keep bailing out everyone who makes a mistake in the market. But neither Sen. John McCain nor Sen. Barack Obama will talk about this issue, let alone propose doing anything about it. A vote for either of them is a vote for the status quo. Only a vote for Bob Barr and the Libertarian Party is a vote for the sort of real change that our country needs and deserves.

I saw a story today about the debt clock running out of room when the national debt hit the $10 trillion threshold. The family that keeps the clock running will be adding another digit.

We can expect that clock to keep rolling unless Bob Barr is elected on November 4th.

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Barr: Time to cut spending