Center for Freedom and Prosperity Foundation
For Immediate Release
Monday, December 15, 2009
202-285-0244
www.freedomandprosperity.org
New CF&P Video: America’s Fiscal Crisis Is
Excessive Government, not Rising Debt
(Washington, D.C., Tuesday, December 15, 2009) A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) discusses the exploding levels of deficits and debt being generated in Washington.
In this CF&P Foundation video entitled, “Deficits are Bad, but the Real Problem is Spending,” Dan Mitchell of the Cato Institute explains that huge deficits and skyrocketing debt are rightly causing worry, but these are merely symptoms of the real problem of excessive government spending. “Fiscal responsibility is lacking in Washington. Deficits and debt are the symptoms, but the underlying disease is government spending,” said CF&P Foundation President Andrew Quinlan.
Links to the video: YouTube | Yahoo | Capitol Hub
The video is particularly timely since Congress is poised to increase the federal government’s debt limit by record levels, and some politicians are proposing a so-called deficit reduction commission. “America faces a fiscal crisis, but focusing on deficits and debt is misguided since politicians can increase the tax burden and claim to be solving the problem,” added Dan Mitchell, who added that, “Replacing debt-financed spending with tax-financed spending is akin to taking a slightly different route to the wrong destination.”
Executive Summary
Huge deficits and skyrocketing debt levels are creating considerable worry. This Center for Freedom and Prosperity video explains that that government borrowing is excessive – and will get worse in coming decades. But this mini-documentary explains that deficits and debt are merely the symptoms, and a rising burden of government spending is the real problem.
Visit CF&P Foundation’s two-part video series on limiting the size of government for additional information on government spending:
8 Reasons Why Big Government Hurts Economic Growth
http://www.freedomandprosperity.org/videos/size-govt1/size-govt1.shtml
The Empirical Evidence Against Big Government
http://www.freedomandprosperity.org/videos/size-govt2/size-govt2.shtml
The following are the links to other CF&P Foundation videos including Tax Competition Primer, VAT-Hidden Tax, Global Flat Tax Revolution, Cutting the U.S. Corporate Income Tax, Promoting Prosperity, Obama’s So-Called Stimulus, Obama’s Deferral Proposal, Case Against Class-Warfare Tax Policy, President Obama’s Dishonest Demagoguery on Tax Havens, a three part series on the Benefits of Tax Havens and a another three-part series on the Laffer Curve.
Link: http://www.freedomandprosperity.org/videos/videos.shtml
Web Links:
Youtube
http://www.youtube.com/watch?v=n9kEmZB5luM
Yahoo
http://video.yahoo.com/watch/6605417/17149687
Capitol Hub
http://capitolhub.com/video/9244/deficits-are-bad-real-problem-spending
For additional comments:
Andrew Quinlan can be reached at 202-285-0244, andy@freedomandprosperity.org
Dan Mitchell can be reached at 202-218-4615, dmitchell@cato.org
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