Steve G.

Voices from LFV Mailbag: Schansberg congratulates Bush and Democratic Congress on world-record budget deficit

In Libertarian, Libertarian Party-US, Politics on July 30, 2008 at 7:12 pm

Dr. Eric Schansberg, a professor of Economics, is the LP’s candidate for the 9th Congressional District in Indiana.  I can’t speak for anyone else, obviously, but I am always quite pleased to see well-educated candidates carrying the libertarian banner.

Many thanks to Douglas Gaking for submitting the following, originally from the LP of Indiana website.

JEFFERSONVILLE, IN — Just in time for the Olympics, the White House has predicted a $482 billion deficit for 2009—which if successful, would allow the President and the Democratic Congress to set a new world record. A $482 billion deficit would smash the current record of $413 billion in 2004.

The 2009 deficit will extend the current national debt to more than $10 trillion. On top of that, unfunded liabilities—most notably, for Social Security and Medicare—add tens of trillions of dollars in debt.

Dr. Eric Schansberg, a professor of Economics and the Libertarian candidate for the 9th Congressional District in Indiana, noted that current debt necessarily leads to higher future taxes. And Schansberg pointed to massive increases in spending as the cause: “Tax revenues, as a percentage of GDP, are well within historical ranges. But spending has increased dramatically. With hundreds of billions of dollars for a housing bail-out, a banking bail-out, the ‘macro stimulus package’, the farm bill, our on-going efforts in Iraq, and so on—after awhile it adds up to real money.”

Schansberg pointed to the subtle costs of the profligate spending: “The dollar has depreciated about 40% since 2002. This leads to a host of problems—most notably, higher costs of imported oil and thus, gas prices. If the dollar was as strong as it was in 2002, we’d be paying less than $3 per gallon—and there’d be very little discussion about gas prices right now.”

In terms of his campaign, Schansberg observed that he is the only fiscal conservative in the race: “If you look at the data from NTU, CAGW and Club for Growth, it is obvious that Sodrel is a fiscal moderate and Hill’s claim to be a fiscal conservative is laughable. If we’re going to restore fiscal sanity in the federal government, we need to send principled, fiscal conservatives to Washington DC.”

For more information on the campaign, see: www.SchansbergForCongress.com. To schedule an interview, contact Eric Schansberg at (812) 218-0443, Melanie Hughes at (502) 432-1930, or send an email to SchansbergForCongress@gmail.com.

Perhaps one of our contributors, who know more about Economics than do I, would like to interview Dr. Schansberg for LFV?

  1. Schansberg also recently won the Libertarian Party’s Thomas Paine award for his excellence in communication (Mike Ferguson is the other winner):

    Schansberg has run for public office and plans on running again this year for Congress. He is the author of three books on limited government, regularly writes articles for the Indiana Policy Review Journal, and publishes an influential blog called the “SchansBlog.”

    Here is his blog: http://schansblog.blogspot.com/

  2. Thanks for the encouraging words and the offer to interview. I’d love the opportunity! If you’re interested, drop me a line at SchansbergForCongress@gmail.com.

    thanks! eric
    http://EricForCongress.com

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