We Need Fiscally Conservative Republicans In Congress
The national debt has recently topped $21 trillion.
The idea that incurring this type of massive debt level is acceptable – represents “a radical shift in thinking” by elected members of the Republican Party currently serving our nation in Congress.
These trillion-dollar deficits must not be allowed to become “the new normal” under President Donald Trump and fellow Republicans who currently control both chambers of Congress.
Why Did U.S. Debt Levels Skyrocket?
New jobs and higher wages paid to existing workers can strengthen and further stimulate our economy. A strong military is also needed to protect and defend our citizens.
But I believe the money needed to pay for these spending priorities should be raised by cutting back an equivalent amount of other expenses or entitlements. That is not a radical concept or a new idea: it is an example of being fiscally conservative – and this used to be a core value of the Republican party.
Kitchen Table Economics
As a professional money manager for over 30 years, I helped families make prudent and disciplined choices about how they spent, saved, donated and invested their hard-earned income.
During the 2008-2009 Recession, these families gathered at their kitchen table – courageously facing the challenge of how to fairly allocate their limited financial resources.
Over the past few years of recovery, these families made decisions to pay down their mortgage and credit card debt, limit their discretionary spending, and rebuild their savings and retirement plan contributions.
Kitchen Table Economics is all about the bottom line: budget your spending within your means so that your family will be prepared to weather the next downturn in the economy or the markets.
Congress Should Also Practice Kitchen Table Economics
As a professional financial planner and experienced money manager, I understand that massive federal debt will eventually slow economic growth and lead our nation into the next recession.
But politicians in Washington show no signs of paying heed to this warning. Congress just allocated 1.3 trillion dollars, and the spending spree is being embraced across party lines.
America Needs The Help Of A Financial Advisor
America can no longer wait to address the deficit spending and national debt problem. The cost to pay for the interest on this debt are expected to triple from approximately $250 billion today to more than $750 billion in 2025.
Costs for the mandated entitlement programs are also projected to rise sharply. The Baby Boomers continue to move into retirement at the rate of 10,000 per day. That adds up – eventually we will have 76 million boomers expecting to be paid an average amount of $40,000 per year in Social Security and Medicare benefits.
Unfortunately, current members of Congress have not agreed on an effective long-term financial plan to meet these looming financial obligations.
Wanted: Experienced Certified Financial Planning Practitioner
Most people are very surprised to learn that no Certified Financial Planner has ever been elected to serve in the United States Senate.
I believe Ohio citizens (both Republicans, Independents and Democrats) recognize the obvious and urgent need to send a professional money manager to Washington, D.C.
President Trump has inspired confidence in the American Economy and the American People. New jobs are being created inside the United States. Wages are finally growing. Companies are buying new technology and equipment. Stock prices have marched higher – reflecting better earnings and growth prospects.
During this period of economic growth and increasing prosperity, we must urgently address the looming deficit spending and national debt crisis.
Congress must recognize that it is not appropriate for them to be spending our tax money beyond their means.
It is time to elect professional and experienced financial planners into office so that they can teach Congress how to operate a balanced budget according to the same Kitchen Table Economics that we used to get our own household family budget back into order.
There are several apparent, but unpopular solutions to fixing this mess. Personal sacrifice will be required of everyone. We need to start now.
That is why I felt called to leave a successful 33 year as a financial planner and money manager to begin this campaign. It’s time for me to give back.
As a public servant, I’m excited to invest my time, talent and treasure to protect and preserve America’s financial independence. My goal is to make sure that you, your children and your grandchildren can continue to pursue and achieve your American dreams.