Tuesday, February 23, 2010

Government must reduce the burden on job creators and cut spending to balance budgets

Government should be limited by spending constraints so it can keep taxes low to stimulate the economy and focus on providing core services efficiently, said former Mayor Frank Guinta, a candidate for Congress in New Hampshire’s First District.

“This economy needs a boost,” Guinta said at a Town Hall meeting in Dover. “It’s all about trying to get money in the hands of people who create jobs [and] providing the environment for them so they can bring back people they’ve laid off.”

With the nation’s current budget deficit hitting about $2 trillion and the debt preparing to climb from $12.4 trillion, it is clear that the country has a spending problem, he said. The president promised 3.5 million jobs with his $1 trillion recovery bill. Instead, the country has lost 3.3 million jobs and unemployment is increasing. It is clear that spending money to stimulate the economy isn’t the right solution, Guinta said.

“What I would do is look at the amount of revenue that’s going to come in and make the tough decision to say we’re going to stop at this level where our revenues are expected to be,” Guinta said. “And at the other side of the ledger, make sure our expenditures don’t reach that level.”

Keeping a budget balanced is not easy, particularly when revenues are declining at the same time that constituents are demanding goods and services, Guinta said. Raising taxes is the easy way out of a budgetary hole. A better premise to start with is that the current revenue is all the government has to work with, he said.

“I think we’re a giving community, and I think we’re willing to help people in need, but ultimately, people want to be self-sufficient; they want to provide for their family,” Guinta said. “The only way you can do that is put everyone in a business environment to be able to be competitive and help make that happen.”