News from the Ninth
Janet Morales - February 17, 2010By Congressman Blaine Luetkemeyer, 9th District of Missouri
Although I’ve been in Congress for one year now, many of you know that I come from a farming and small business background in rural Missouri. As such, the amount of taxing, spending, and borrowing proposed in Washington, D.C. continues to astonish me each and every day. You and I know that this isn’t the way to get our economy back on track, but unfortunately many people in Washington just don’t get it.
The latest example was last week’s vote to increase the amount of money the government can borrow by $1.9 trillion for a new debt limit of $14,294,000,000,000. I strongly opposed this massive increase in the federal government’s credit card limit. This increase is the largest in history and is the fifth such increase in the past year and a half. On a per capita basis, a debt of $14.294 trillion is equal to $46,319 per person. Based on population figures from the last Census, the 9th District of Missouri’s share of the national debt will be nearly $29 billion under this new debt limit.
This level of debt is unsustainable for us, our children, and our grandchildren. The foreign investors that hold our debt may start demanding higher interest rates from us, which would make our fiscal situation even worse. And the government’s bond rating might be in question unless something is done to reduce the huge budget deficits projected for the next decade.
We must get serious about tackling the debt. In Missouri, families and businesses are tightening their belts to make ends meet, and even state government must balance its budget every year. We should hold the federal government to the same standard. That’s why I am a proud co-sponsor of a constitutional amendment to require a balanced budget at the federal level.
At the end of the day, getting our fiscal house in order is not a partisan political issue but an American one. It is going to require both parties to work together and find bipartisan solutions to pay off the debt and deal with our deficits. The federal government has to live within its means just like you and your family do every day.
CONTACT US: As always, I encourage you to visit my website at http://luetkemeyer.house.gov/. I also encourage you to call my offices in Columbia (573-886-8929), Washington, Mo. (636-239-2276), or Hannibal (573-231-1012) with your questions and concerns. If you want even greater access to what I am working on, please visit my YouTube site at http://www.youtube.com/user/BLuetkemeyer and my Facebook page at http://www.facebook.com/people/Blaine-Luetkemeyer/1358702716.