Election Watch 2008

Focusing On The 2008 Presidential Campaign

Tuesday, March 08, 2005

The Effect Of Federal Fiscal Policy On 2008

Federal Reserve Chairman Alan Greenspan told the House Budget Committee last Wednesday what every adult who runs a fiscally sound household already knows: "You cannot continuously introduce legislation which tends to expand the budget deficit" without running into serious trouble.

The term that he used was that President Bush's current policy would be "unsustainable." The term we as private citizens would use for this eventuality would be personal bankruptcy - and that, unfortunately, is exactly where the Bush administration, in contrast to good conservative fiscal policy, is pushing our country.

I firmly believe that the budget deficit and its effect on the hearts and minds of voters is coming to roost in the 2008 campaign. I think that voters are starting to take a harder look at the fiscal policies not only of this administration but of Congress as a whole, and are becoming more uneasy with the idea of deficit spending and its long term effect on the economy.

Each of us has to make personal decisions to balance our own checkbook each month. We can only hope that Congress has the sense and backbone to begin to balance the American checkbook and not allow the administration or Congress to continue to push our country, our children and grandchildren toward financial disaster.

In 2008, I can see candidates that whom have practiced and continue to preach sound fiscal policy and securing necessary programs such as Social Security have mass appeal to voters. The question will be, who will rise to the top? Any thoughts?