Editors' note: this is part two of Chuck Norris' column. For Part 1, click here.
When Barack Obama was elected president, he made claims that he would "go through our federal budget -- page by page, line by line -- eliminating those programs we don't need." But that is just another broken promise in a long line of others.
A couple of weeks ago, the Cato Institute faced off with President Obama by taking out a full-page advertisement in The Washington Post and other newspapers, identifying $525 billion that Obama could cut annually from the federal budget (and $1 trillion over the next decade on top of that) by simply eliminating unnecessary, wasteful and superfluous programs.
While laying blame on both big political parties' spending sprees for burying us in a recession, the ad challenged: "It's been nearly two years since you made that pledge, Mr. President. Since then, you've signed into law an $800 billion 'stimulus' package and a massive new health care entitlement -- adding trillions of dollars in unfunded liabilities to our grandchildren's tab."
With the economy teetering on bankruptcy and virtually every American household making deep cuts and sacrifices, isn't it way past time, Mr. President, for you and that wayward Congress to identify the programs you'll cut?
We the people need to appoint representatives who would override Washington's present fiscal insanity with what I'll call "8 Economics 101 Steps for Government Dummies."
First, our Washington representatives should immediately stop any thought, form or legislation that would lead to more federal borrowing or bailouts (unlike Obama's theory and practice of spending our way to prosperity, which has proved only to be a sure way to sink America). Lawmakers should rescind the remaining funds from TARP, as well as repeal the high-priced health care law.
Second, our Washington representatives should downsize the federal government by enacting tough spending caps and making across-the-board mandatory cuts. Follow the Cato Institute's advice in its department-by-department guide to slashing the federal government's budget. Focus on all spending, not just discretionary spending. No stone or department should be left unturned, including the sacred cows, such as Social Security and the Defense Department. And if partisan resistance and whining result, then mandate an immediate and equitable 10 percent reduction for all.
In Honor of His 103rd Birthday, Here Are The 20 Best Quotes From The Late, Great Milton Friedman | John Hawkins