Tea Party Speech: Damn the Torpedoes, Full Speed Ahead

Good morning Tea Partiers!

We have accomplished magnificent things in just two short years.  Nationally, we regained control of the U.S. House, and fired Nancy Pelosi as Speaker.  We won a record 680 new seats in state legislatures across America.  In Michigan, we took control of the governorship, the legislature, the Michigan Supreme Court, the attorney general’s office, and the secretary of state’s office.  In general, we reminded politicians that the U.S. Declaration of Independence and the U.S. Constitution contain the greatest political concepts in the history of the world.

Our message of limited government and frugal spending is starting to resonate across the country.  Many brave state governors are leading the charge, including Chris Christie in New Jersey, Rick Perry in Texas, and Scott Walker in Wisconsin.  Remarkably, we are even seeing signs of bold leadership from Rick Snyder in Michigan. 

Unfortunately, there is very little evidence of bold leadership at the federal level in Washington.  Our leaders in Washington claim they are cutting spending, but so far, they have only cut 1% of this year’s $3.7 trillion budget.  Cutting 1% out of a $3.7 trillion budget still leaves a $3.7 trillion budget.  Their cuts amount to little more than a rounding error.  And then they have the audacity to say that they can’t find anything else to cut!  What nonsense!  There are entire departments and agencies that are utterly useless and counterproductive.  Eliminate them!   There are 380,000 employees of the federal government who make over $100,000 per year, an increase of almost 50% in the last two years.  Downsize them!   The federal government has to stop spending money that it does not have!

Washington is borrowing five billion dollars per day.  The $38 billion that they so proudly cut last week only eliminates 8 days of borrowing!  It’s spit in the ocean and spit on our faces.  It’s like trying to put a wildfire out with a glass of water.  Let’s get real leaders in Washington who will take the responsibility of governing seriously!

Courageous political leadership will be necessary to solve our problems, particularly at the federal level.  At the state and local level, fiscal reality alone will force political leaders to address their spending problems, because state and local governments, unlike the federal government, can’t print money, nor can they borrow it indiscriminately.  Bankruptcy is a very real threat to state and local governments, if they do not get their financial houses in order.

Unfortunately, fiscal reality has not yet awakened in Washington.  This is the great threat to our republic, and the great challenge for our limited government movement.  I’m not afraid that the federal government will go bankrupt.  I’m afraid because it can’t.  Unlike our state governments, the federal government can continue to spend us into oblivion, until all of us taxpayers go bankrupt. 

Here’s why Washington can stick its head in the sand and pretend it doesn’t have a spending problem, at least in the short run:

First, Washington can borrow money indiscriminately.  So far, it has borrowed $14 trillion dollars, which is $40,000 of debt for every man, woman, and child.   Our leaders have the biggest credit card in the history of the world.  Unfortunately, the names on that gargantuan credit card are yours and mine and our children.    

Second, Washington can print money indiscriminately.  It has begun printing trillions of dollars out of thin air.  It then buys its own Treasury Bills with this monopoly money, in order to maintain the illusion that we can afford our government life style. 

But, the truth is that we can’t afford our federal government lifestyle.  Washington’s obscene spending will end badly for all Americans, unless we change course quickly and dramatically.  Here’s why:

1)                  This year’s budget is $3.7 trillion dollars.  However, we are only collecting $2.1 trillion in taxes.  We are borrowing the difference of $1.6 trillion.  Thus, we are borrowing almost 40% of our spending.  If the CEO of a private business did this, he would be fired.   If we didn’t borrow $1.6 trillion from the Chinese and from our children this year, taxes would have to increase 75% across the board to eliminate this year’s deficit.   That’s how far our spending is removed from reality.  Looked at another way, every single taxpayer would have to pay an additional $1,000 per month, every month of the year, to cover this year’s deficit.  That’s equivalent to a house payment, which is a good metaphor, because we have indeed mortgaged our future.

2)                  The worst is yet to come, because massive entitlement programs like Social Security, Medicare, and now ObamaCare have committed us to another $70 trillion dollars in future unfunded liabilities.   There is nothing in the Social Security Trust Fund today, except a useless pile of trillions of IOU’s.  The federal government has already borrowed and spent every penny of the Social Security trust fund on boondoggle programs.  Because of reckless politicians, our retirement security is now dependent on the willingness of future generations to tax themselves to replace our earlier social security contributions that the government has essentially stolen.

3)                  Inflation will be the next major disaster because of the fake money that the government is printing to cover its reckless spending.  Inflation caused by government printing presses is a direct tax on our wealth.  The prices of food, gas, and other commodities have already started to spike, making us all worse off.  The dollar is falling in value around the world.  Even the Chinese, who are nervous because they have funded our outrageous spending with loans, recognize that we are on the edge of a cliff.  One Chinese scholar recently declared, “Great nations fall because they turn their back on the principles that made them great.”   America gave birth to the greatest political principles in history.  It’s a shame that the Chinese know that, but our leaders in Washington don’t.    

This is why things are incredibly challenging for our movement.  It is not enough to just elect Republicans instead of Democrats.  This is not about political parties.  This is about nominating and electing true champions of limited government who will have the courage to make brutally difficult decisions.  It would be a tragic mistake for us to become complacent and assume that America has been saved just because we elected some Republicans in 2010.   We have a long way to go, and we are still in grave danger. 

Our challenges ahead include electing more champions of limited government, like Rand Paul, to take control of the U.S. Senate in November, 2012.  We need to fire Harry Reid as the Senate majority leader!  We need to add more champions of limited government, like Paul Ryan and Michele Bachmann, to the U.S. House.  We must also fire Barack Obama, the Community Organizer in Chief, whose mission thus far has been to grow government, impede business, and move us closer to socialism.  We need to elect a champion of limited government into the White House in November 2012!

More than ever, America needs the energy and the vision of the Tea Party movement.  We champions of limited government cannot rest until the leaders who spend like drunken sailors in Washington and in state governments have been removed from office.  Some of our politicians got the message in 2010.  Sadly, many did not.  It is our mission over the next two years to make sure that every politician in America gets the message of limited government in 2012.  If they don’t, we need to make sure that they get involuntarily retired, regardless of which side of the aisle that they sit on.

As we pursue this sacred mission, the media will continue to target us.  Politicians who are frightened by the power of our movement will continue to target us.  They will call us racist, even though we welcome all Americans to our limited government movement.  They will call us extremists, even though we are simply advocating the fundamental compact of our country, the U.S. Constitution. 

Ironically, the one thing that they will not call us is right, even though that is what we are.  So, when the media and the frightened politicians attack us with outrageous untruths, let us draw courage and determination from the rightness of our cause.  Let us heed the Civil War battle cry of Admiral Farragut, who declared, “Damn the torpedoes, and full speed ahead.”

2012, here we come.

Thank you. 

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