Discussions about the March debt ceiling deadline are continuing. U.S. Congressman Don Young said he’s still pushing for a $1 cut in spending for every $1 in tax increases. The reason…
Rep. Young(R-AK): “We’re not creating any new wealth in this country. We don’t produce anything in this country any more, we buy everything from abroad, and through the regulations the government puts in, we’re not creating any new tax dollars. We’re taxing the existing dollars, but that doesn’t create any new wealth.”
Congressman Young spoke of how America first became a great nation in the world because of its resources and production.
Rep. Young(R-AK): “Right now we say we’re going to live on high technology. Technology cannot support itself. It’ll perish itself, beause there’s nothing there you can wear, or you can sleep under, or you can eat, it has no value. So that’s where we have to get back to the basics of this country is why were the greatest agricultural nation, we’re no longer that. Why we were the greatest oil producing nation, when we’re no longer that, why we were the greatest ore producing nation and we’re no longer that and why we were the greatest manufacturing nation in the world and we’re no longer that. We just stopped doing those things and then there’s nothing new to tax.”
Congress has six weeks to come to a decision on the debt ceiling. Democratic leaders have suggested the President use Executive Order, but he hasn’t directly responded.