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Libertarians
say ‘no’ to raising debt
limit...
July 28, 2011
WASHINGTON
- As Republicans and
Democrats in Washington continue chewing the scenery in their ‘Debt
Limit
Theater,’ Libertarian Party Chair Mark Hinkle released the following
statement today:
“Everything
I’ve heard from Washington
politicians about the debt limit is nonsense. I propose the simplest
option: Do
nothing. Don’t raise the debt limit, period.
“None
of the deals I’ve heard would do
anything to cut federal spending. Some reduce the rate of growth a
little bit,
but I’m afraid that doesn’t count.
“And
of course, some of the proposals
would increase taxes, which Libertarians are totally opposed to.
“The
best outcome would be no deal at
all. If the debt limit is not raised, then the federal government will
have to
cut its spending by over 40%. That would be the best outcome for the
future of
America, and it’s certainly the preferred outcome for Libertarians. (It
reminds
me of the World’s Smallest Political Quiz, produced by the Advocates
for
Self-Government, which includes the libertarian option to ‘Cut taxes
and
government spending by 50% or more.’)
“I’m
actually shocked at how resistant
both the Republicans and Democrats are to making cuts. I wasn’t
expecting much,
but their proposals are downright embarrassing.
“For
example, consider Speaker
Boehner’s plan. According to the Cato Institute, the Boehner plan
doesn’t cut
spending. It just sets the spending increases slightly below the
imaginary
Congressional Budget Office (CBO) ‘baseline.’
“According
to the CBO report released
yesterday, the Boehner plan has practically no effect on the deficit in
2012,
the only year that really matters. In fact, the Boehner plan actually
increases
Pell Grant spending by $4 billion in 2012. (So does the Reid plan in
the
Senate.)
“Of
course, the Reid plan largely
takes advantage of massive errors in the CBO baseline to claim ‘cuts.’
(For
example, the CBO predicts absurdly high levels of spending for the wars
in Iraq
and Afghanistan.)
“As
usual, Republicans and Democrats
are trying to create the illusion of a high-stakes game between two
vastly
different visions. In fact, their visions are practically identical. I
hope
Americans will see through all the smoke, and consider the Libertarian
option to
make real reductions in the size and scope of government, across the
board.”
For
more information, or to arrange an
interview, call LP Executive Director Wes Benedict at 202-333-0008 ext.
222.
The
LP is America’s third-largest
political party, founded in 1971. The Libertarian Party stands for free
markets, civil liberties, and peace.
You
can find more information on the
Libertarian
Party at our website.
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