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Monday, April 13, 2015

Help Mike Lee Stop Fiscal Child Abuse

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Mike Lee wants to stop fiscal child abuse and he could use your help.

The term fiscal child abuse was coined by liberal economist Laurence Kotlikoff, to describe the Washington practice of spending money now and running up debts to be paid for by future generations.

Back in 1997, before Balance Budgeting Republican was an oxymoron, Newt Gingrich's congress passed a law to control the increase of Medicare costs. For the past 18 years, congress has regularly passed a "doc fix" bill to increase the rates paid to doctor. The original 1997 law helped keep health care cost inflation in check, but the "doc fix" restored these payments to the health care industry. To restore the payments to the doctors, Congress has had to cut spending elsewhere.

Now a new fix to "doc fix," recently passed by the House with Republican and Democrat support, is going to pay for two-thirds of the cost ($141 billion) by adding it to the debt. Mike Lee thinks this is a bad idea. He wants to pay for this by cutting spending elsewhere. When the bill comes to the Senate this week he is going to propose an amendment to require the $141 billion to be paid by spending cuts elsewhere, instead of another act of fiscal child abuse to add to the $18 trillion already dumped on our children and grandchildren.

Please contact your U.S. senators and ask them to support Mike Lee's amendment to the "doc fix" bill.

UPDATE: 4/15/2015 - from Daily Caller - Utah Republican Sen. Mike Lee had introduced a potential amendment to the bill that would have subjected the bill to spending rules known as pay-as-you-go, which would have required the cost of the bill to be fully offset by spending cuts or tax increases. Lee’s amendment, which required 51 votes to pass, fell short at 42-58.

Once again the next generation will pay for our spending. Fiscal child abuse is a Washington value.

Mike Lee gives the details of his idea in this editorial.

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