Question 9: How will you balance the budget

Our ninth question is from G. Richard Raab:

The US deficit is now out of control. What exactly will you be pushing to balance it? While I differ with Obama and Paul about cutting back on NASA, at least they are acknowledging that hard choices MUST be made, and laying out plans. What hard choices will you as a congressperson push for? Please, lets skip the rhetoric. What new taxes and/or spending cuts?

Will Shafroth:
I would eliminate the Bush tax cuts for the wealthiest Americans.  I would also severely reduce the tax benefits for the oil and gas industry and redirect some of those dollars towards renewable energy research and development.

I would also strongly advocate a reduction in our Dept. of Defense budget, especially for new weapons’ systems.  We already spend more on our defense budget than all other nations in the world, combined.

Finally, I am a strong supporter of PAYGO, which requires Congress to pay for new programs without increasing the deficit. 

I am concerned about our ballooning debt because it places an unfair burden on our next generation of Americans. The responsible thing to do is to balance our budget and leave our children with many opportunities to invest in their own future.

Joan Fitz-Gerald:
First of all the war in Iraq has bled this country of our financial resources which previously were used here at home for infrastructure, health care and education.  The cost of Iraq and Afghanistan is estimated at 2.4 trillion dollars.  End the war, bring our troops home. Redeploy the dollars.   End the Bush tax cuts for the wealthy and the incentives for corporations to off shore operations. Use pay as-you go, any new programs have to find their own funding source so that to begin a program you probably need to end a program.  I have balanced the budget here in Colorado even when our budget slammed down by 1 billion dollars we made hard choices but kept the state fiscally sound. 

Jared Polis:

1. The war in iraq has cost almost $500 billion dollars. By some estimates including related spending, it is even higher. Ending the war in Iraq is correct morally and politically, and it will also have fiscal benefits.
2. We should roll-back most of the Bush tax cuts, including the income tax cut on the wealthiest Americans and the inheritance tax cut, returning these tax rates to what they were under Clinton.
3. Fixing Medicare and social security, two large looming unfunded liabilities. We need to ensure that Medicare and social security are here for the future by taking steps now to ensure their solvency.
4. Support procedural reforms to end the process of earmarking, which leads to unaccountable pork-barrel politics helping incumbents of both parties win re-election breaking the bank in the process