I want you
to think
about the
following
number:
$223,000,000,000.00.
That’s how
much the
federal
government
overspent
in
February
alone:
$223 billion
over budget
in just 28
days. That’s
a big
number.
Let’s try to
put that in
perspective:
- $7.9
billion
overspent
each day
-
$331.8
million
overspent
each
hour
- $5.5
million
overspent
each
minute
-
$92,179
overspent
each
second
It also
marks the
29th month
in a row in
the red, a
record. The
federal
government
hasn’t had a
surplus in
any month
since
September of
2008.
The
deficit last
month is
four times
larger than
the
reduction in
spending
Republicans
in the House
approved a
couple weeks
ago and 30
times the
size
Democrats in
the Senate
are
suggesting.
Even if
Congress
sent to the
President
the $61
billion in
cuts we
approved in
the House,
the amount
is less than
the rounding
error
between OMB
and CBO as
they
estimate
this year’s
deficit. We
have got to
stop
spending
money we
don't have.
There
will be very
difficult
but
necessary
decisions to
make to get
spending
under
control. I
don’t say it
to be overly
dour, but
it’s just
the reality
of the
situation
that we’re
in. Nobody
ever comes
into my
office and
says “cut my
budget.” But
when you’re
borrowing 40
cents on the
dollar (and
more like 66
cents in
February!),
it means
you’ve
developed
some bad
habits that
are going to
be painful
to break.
But break
them we
must. Every
family and
business in
America has
to work
within a
budget, and
the federal
government
is no
different.
Déjà vu
all over
again on gas
prices
Once
again, gas
prices are
creeping
ever higher,
even before
the busy
spring and
summer
travel
seasons
begin. Gas
prices go up
when the
margins
between
total
consumption
and excess
supply
shrink.
Under normal
conditions,
those
margins are
so thin that
it doesn’t
take much to
jolt the
markets. Cue
the unrest
in Libya and
their
disruptions
in energy
production,
and prices
go up.
It’s a
cycle that
seems to
repeat
itself every
few years.
To be sure,
part of the
solution is
smarter
consumption
of energy to
soften
demand. But
an increase
in supply
must
be pursued
if we are
going to
have the
kind of
affordable
energy
necessary to
help pull us
out of the
economic
slump.
So, House
Republicans
yesterday
unveiled the
American
Energy
Initiative,
a new
ongoing
initiative
to:
- Stop
government
policies
that are
driving
up gas
prices
-
Expand
American
energy
production
to lower
costs &
create
more
jobs
-
Promote
an ‘all
of the
above’ strategy
to
increase
all
forms of
American
energy
The
initiative
follows up
on
Republicans’
Pledge to
America
commitment
to “increase
access to
domestic
energy
sources and
oppose
attempts to
impose a
national
‘cap and
trade’
energy tax.”
For far
too long we
have been
reliant on
foreign
sources of
oil from
regimes
that,
frankly,
don’t like
us all that
much. Yet we
continue to
punt on
formulating
a coherent
national
energy
policy that
promotes
energy
independence
through
using
smarter
sources of
energy and
increased
domestic
energy
production.
As a
member of
the Energy
and Commerce
Committee, I
look forward
to pursuing
these
commonsense
policies for
a smarter
energy
future. And
I hope
President
Obama will
join us in
working
toward that
worthy goal.
Unfortunately,
since taking
office, the
administration
has taken
numerous
steps to
block
American
energy
production.
Here’s a
list of just
what’s
happened in
2011.
Click hereto
view the
entire list.
January
14th
|
Revoked
an
already
issued
permit
for
a
West
Virginia
coal
mine,
costing
250
American
jobs. |
February
2nd
|
Continued
to
impose
a
de
facto
moratorium
on
drilling,
Federal
Judge
finds
the
Interior
Department
in
contempt
of
court. |
February
14th
|
Released
the
FY
2012
budget
proposal
that
includes
over
$60
billion
in
direct
tax
and
fee
increases
on
American
energy
production. |
February
15th
|
Announced
further
delays
to
U.S.
oil
shale
production
by
deciding
to
re-review
the
current
rules
for
commercial
oil
shale
leasing. |
February
28th
|
Issued
a
token
deepwater
permit,
over
four
months
after
the
moratorium
was
officially
lifted.
Did
not
say
when
future
permits
would
be
issued,
thereby
continuing
the
de
facto
moratorium
and
leaving
thousands
of
Americans
out
of
work. |
March
4th
|
Filed
an
appeal
to a
Federal
Court
ruling
that
ordered
the
Administration
to
act
on
stalled
deepwater
permits. |
The #3 in
the House
comes to
Oregon
Last week
I brought
Congressman
Kevin
McCarthy out
to Oregon
for a quick
tour of
central and
southern
Oregon. Rep.
McCarthy is
the House
Majority
Whip, which
makes him
the third
most
powerful
member of
the House of
Representatives.
Like me,
he too was a
small
business
owner. We
visited
Carlson Sign
Company in
Bend to meet
with local
economic and
civic
leaders to
talk
directly to
small
business
folks about
what’s
working and
what’s not.
Together
as members
of the House
leadership,
we’ve been
hard at work
making the
difficult
but
necessary
decisions to
get spending
under
control.
It's time
for
government
to tighten
its belt and
balance its
budget, just
like
families do
every month.
You can read
a little
more about
Rep.
McCarthy’s
visit here.
New
Region 6
Forest
Supervisor
I had the
chance to
meet the new
Region 6
Forest
Service
Supervisor
Kent
Connaughton
in the
nation’s
capital
yesterday.
We discussed
various
issues
important to
the
Northwest
and
especially
in our
Second
District,
from forest
management
and creating
work in the
woods, to
county
timber
payments and
mining
permitting
issues, like
those raised
to me in my
recent town
hall in
Baker
County.
I also
explained to
Supervisor
Connaughton
the
importance
of Region 6
and Forest
Service
headquarters
making it a
priority to
increase
their
on-the-ground
monitoring
of grazing
allotments
in the
Malheur
National
Forests and
across other
Forest
Service
lands in
eastern
Oregon where
lawsuits and
a court
decision
have
threatened
ranchers’
ability to
graze their
cattle this
summer. The
increased
monitoring
will give
the Forest
Service
better data
to defend
its case in
court,
hopefully
reducing the
duration of
lawsuits and
the negative
effects on
ranchers.
Oregonians
in the
nation’s
capital
Oregonians
from all
over the
Second
District
passed
through the
office in
Washington,
D.C. this
week,
including
folks from
Warm
Springs,
Umatilla,
Hermiston,
Klamath
Falls, Hood
River, Baker
City, John
Day, Bend,
White City,
Sisters, and
Redmond.
I met
with Merle
Jackson of
Redmond VFW
Post 4108,
who was in
the nation’s
capital for
the VFW’s
national
convention
to identify
key areas of
concern for
veterans and
national
security
issues.
Merle is
also a
member of
the VFW
National
Legislative
Committee.
I
certainly
appreciate
the valuable
guidance
from Merle
and the VFW
on how we
can do a
better job
taking care
of our
fighting men
and women
both while
they’re on
active duty
and when
they have
transitioned
back into
civilian
life. It’s
their very
least we can
do for our
heroes.
That’s
all for now.
Have a great
weekend.
Best
regards,
Greg Walden