Tuesday, February 11, 2025 at 9:36 PM
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Fiscal discipline a must

WRITE OF CENTER

Coming from an immigrant family with parents raised during the Great Depression, the need for fiscal responsibility was drilled into me at an early age.

My father, who after arriving in America at age 14 lived in a four-story walk-up tenement in the South Bronx, once told me that he grew up with an advantage.

Having grown up myself in a prosperous, leafy suburb with good public schools, I asked my dad what advantages he possibly could have had. His response was simple; “I learned the value of a dollar.”

Personal sacrifice for the betterment of future generations was the creed that my grandparents lived by. They passed this philosophy down to their children — my parents. They all learned how to get the maximum value out of each dollar they earned through hard work.

Sadly, the notion that each successive generation in America should become more prosperous seems to be slipping away. Much of this is due to the irresponsibility of the federal government.

Washington, D.C. is living way beyond its means, racking up a disgusting amount of debt — approximately $110,000 for every American.

Many folks feel that this is due to the indulgence of the Baby Boom generation. Perhaps this is why so many young people shocked the prognosticators and self-professed political savants by casting their votes for Donald Trump. They seem to have learned that the absurd excesses of the past several years have hurt their future.

The challenge for President Trump and congressional Republicans is to restore fiscal sanity to

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Washington, which has been in hibernation for far too long.

States are required to balance their budgets, so shouldn’t the federal government? Undoubtedly this will take time as we face forecasts of trillion-dollar deficits as far as the eye can see. This is unsustainable and must end immediately.

Hopefully the Department of Government Efficiency (DOGE) can have an impact.

The first stimulus package to counter Covid was passed during the Trump administration and was followed by two bloated spending packages in the Biden years that endeavored to permanently increase federal spending.

People of all political persuasions should hope that DOGE identifies inefficiencies and waste to reduce the budget, which has now reached $7 trillion per year.

Starting in 1980, had the spendthrifts in D.C. used the constitutional spending metric used by responsible states like Texas (limited spending increased to inflation and population growth) our federal government would be half the size it is today.

It’s clear that we are robbing the future of our children to make the present look good. This is the antithesis of my parents and grandparents’ philosophy.

An increasing part of the federal budget is interest on the national debt. This is really sickening — approximately $1 trillion per year in interest payments on debt; no principal reduction mind you — just interest payments.

Compare this fiasco to how responsible local and state governments handle their finances. Kendall County aggressively pays off its debt, and approximately 75 per cent of Boerne ISD’s 2024-25 debt service budget goes to pay off principal debt.

I think my parents and grandparents would be horrified at how the federal government mismanages taxpayer money.

Kevin Henning, a Boerne Star columnist with a progressive point of view, has cited the need to reduce the share of American GDP consumed by federal spending. I applaud Kevin for this honest assessment. He has also advocated for the share of GDP raised in federal taxes to be increased to balance the future budgets.

What I would say is that prior to even considering new sources of revenue, we reduce the spending juggernaut. Revenue is not necessarily the problem; excessive spending is.

From 1980 to 2024 federal revenue grew at twice the rate of the combined inflation rate and population growth.

What also needs recognition is that federal revenues grow with a healthy economy. During President Reagan’s two terms, revenues grew an impressive 60% despite significant reductions in income tax rates. President Trump’s first term saw revenue increases of 22% while having low inflation and reduced tax rates.

It is time for Washington, D.C., to stop the nonsense and tighten its belt. Our children’s futures depend on it.

Rich Sena is a Boerne resident and member of the county’s Republican Party.


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