Friday, January 4, 2013
House Majority Whip Kevin McCarthy: rising public debt is a threat to the next generation while federal policies are a headwind to economic development
Fresh off the fiscal cliff vote in an embattled Congress, House Majority Whip Kevin McCarthy (R-Bakersfield) gives us his weekly view from Capitol Hill. In his words:
"This past week, we rang in the New Year and the 113th Congress was sworn in. I am honored to continue to have the opportunity to serve the residents of California’s 23rd congressional district.
"Across the Central Valley to the Indian Wells Valley and down to the Antelope Valley, families and small business owners endure the burden of regulations, taxes and litigation. We face a sluggish economy, budget deficits and a national debt of over $16 trillion that threatens our country’s fiscal security. All the while, we also endure the burden of interest payments and uncertainty as well.
"To overcome our obstacles, we must have an economy that thrives on freedom and individual opportunity. Rising public debt burdens future generations and hinders private investment. Economic prosperity requires innovative ideas that spark new small businesses led by hardworking individuals that are willing to take risks. That requires a business climate that reinvigorates our nation’s entrepreneurial spirits and that remains our goal for the New Year.
"Unfortunately, policies coming out of Washington are a headwind to economic development. We don’t have a revenue problem, we have a spending problem, and that is why I am committed to cutting spending to reduce the deficit so we can begin to pay down the national debt, creating certainty in the marketplace to help foster for long-term business planning and investment. With over $16 trillion in national debt and massive state deficits, we must get our fiscal house in order so that we may spare our children and grandchildren from the burden of our debt.
"Now is the time for the new Congress to step up and find meaningful, commonsense solutions for spending reductions and tax and entitlement reform to help grow our economy and create jobs. As Majority Whip, I will continue to fight for Kern County and the Central Valley, from water for our farmers to lower taxes for our small business owners to regulatory reform to unleash responsible American energy development right here in our communities. There is no reason that we can’t work to reduce unemployment, increase small business start-ups, and spur American innovation.
"Despite the challenges we face, I am optimistic about our future because of the work ethic, resiliency and entrepreneurial spirit of American families and small businesses. The path to American prosperity is a framework that simplifies our tax code, cuts federal spending, and reforms our entitlement programs, and that is what I will continue to fight for. The next Congress will play a critical role in reviving our economy, creating jobs, ending the tax and regulatory war on American job creators, and solving our nation’s spending-driven debt crisis which menaces our children and grandchildren. As Majority Whip in the House, I will continue to fight so that every American has the opportunity to pursue and achieve their hopes and dreams and I welcome your input and ideas."