- The Washington Times - Tuesday, January 13, 2009

ANALYSIS/OPINION:

Congressional politicians are at it again. Many of them apparently think the United States can spend itself out of a recession they helped create by pushing Freddie Mac and Fannie Mae to make mortgage loans to people who couldn’t afford them. Thus the downward spiral that’s labeled the housing crises.

These politicians should be aware that overspending only puts the country deeper in debt, to a point where it might collapse just as many businesses and families have done, unfortunately, during the current recession. The government already has $1 trillion or more of debt and is considering adding another trillion in the name of recovery.

Why are members of Congress and other government officials afraid of doing what has worked effectively in the past: meaningful tax cuts for everyone, including businesses that pay taxes? Three presidents - Kennedy, Reagan and Bush - cut taxes, and tax revenue boomed. But Congress went on a spending spree, and that’s the problem.

When people have money in their pockets, they tend to spend, and that is good for the economy. Tax cuts also help put money in businesses that hire people to produce and deliver goods and services, thus expanding business, which also boosts the economy.

Congress should not follow in the footsteps of the past that helped trigger the current recession, such as with mandates to Freddie Mac and Fannie Mae. Also, Congress needs to rein in spending and support only essential services and not take over the economy.

That would be disastrous because it doesn’t have the wherewithal to do that, as evidenced by the recent bailout actions and financial troubles facing Social Security, Medicare and Medicaid that could adversely affect millions.

I urge Congress to cut taxes as three presidents did and let capitalism do its job. Also, work to balance the budget for the sake of all of us, including future generations.

FRANK MEDICO

Mount Vernon

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