Here in Georgia, our state Constitution requires a balanced budget.
In strong economic times – with healthy government revenues – it’s easy to balance a budget. But during economic downturns – like the Great Recession of the late 2000s – we have to make tough decisions about our spending priorities. This often involves taking a close look at how we’re spending your tax dollars – and cutting out areas where we find waste and inefficiency.
What we don’t do is turn to income tax increases to fill budget holes. I know how hard Georgia’s families and small business owners work on a daily basis and I know the negative impact high taxes can have on their lives. That’s why I’ve worked hard to lessen the tax burden on all Georgians, including the elimination of the marriage penalty and the repeal of the estate tax.
We’ve been able to cut taxes – while balancing the state budget every year – because of fiscally responsible spending and good governance.
Once again, Washington has taken the opposite approach – with predictable results. The federal budget deficit for this year alone is over $600 billion with the Congressional Budget Office expecting annual budget deficits to reach $1 trillion annually in 2022. Meanwhile, total government debt is estimated at over $19 trillion dollars.
Yet despite the massive growth of the federal government and new job-killing programs like Obamacare choking out private sector growth, Washington liberals continue to insist on raising taxes on Americans of all income brackets – while proposing even more in spending.
In Georgia, we’ve taken the fiscally conservative approach – and it’s working. Washington could learn a thing or two from the Peach State.