The Scoop...October 24, 2011
Fiscal policy was the hot topic for both Congressman Jim Jordan and the Rotarians at the October 24th meeting.
President Jerry Courtney called the meeting to order at 12:13pm. Roy Baldridge gave the invocation and led the pledge of allegiance, then David Runk gathered the group to sing America the Beautiful. Sgt. At Arms Mike Powell welcomed six guests and reported 86 Rotarians at the previous week’s meeting; then buckets were passed for Happy Dollars.
Justice Robert Cupp introduced guest speaker Congressman Jim Jordan.
75% of Americans think the country is on the wrong track, according to Jordan. He says the Obama administration’s policies are exactly the wrong thing and he pointed to four specific points: taxes, regulations, energy policy and fiscal policy. Jordan supports a flat tax and this week will be working on a bill that calls for a 2-rate system instead of the current IRS regulations. Jordan would also like to see this country use the energy resources we are blessed with, and stop excessive regulations that make it difficult for us to access those resources. Jordan also believes that fewer regulations on businesses would lead to more job creation and thus greater tax revenue.
The United States is spending 3.6 trillion dollars this year, while taking in only 2.3 trillion dollars. “You can’t keep spending more than you take in,” emphasizes Jordan. People think it can’t happen here but, “We can face a sovereign debt crisis. What’s saving us now is that we’re still the biggest kid on the block.” Jordan says we missed our biggest chance to fix the problem this summer when the debt ceiling was raised to 2.4 trillion dollars. Jordan believes Congress should have also passed Cut, Cap & Balance to cut spending and balance the budget. He says the longer it takes to fix the problem, the tougher it will get. “It has to change.” Jordan fielded questions for 20 minutes, primarily on the economy.