SENATOR JERRY TILLMAN SENATE MAJORITY WHIP

SENATE UPDATE
August 26 , 2011 Restore Economy/Put People to Work President Obama will soon unveil his long awaited economic recovery plan .about 3 years late. While you procrastinate, Mr. President, Ill suggest one for you to chew on. Send Congress a consumption only tax plan. Eliminate 95% of the IRS. Eliminate 95% of all tax loopholes, deductions, write offs shelters and federal subsidies (start with the ethanol subsidy). We need the corn we produce to eat and to feed the farmers animals. By the way, I havent noticed ethanol prices decline much even with our foolhardy subsidies. Have you? Lower the U.S. Capital Gains Tax by 50%. Lower the U.S. Corporate Tax rate by 50%. You will see foreign corporate headquarters and their billions come back to America. You will see increased business expansion and a corresponding drop in our unemployment rate. You will see a positive reaction in U.S. markets, especially the stock market. You will see..

Do I expect this to happen? Are you kidding me? Never, not under this President. President Obama wants increased Government spending and increased taxes. Just the wrong recipe. You will see.Remember, he tried the great stimulus plan nearly 3 years ago. You can see how this worked out. My guess is hell try it again along with higher taxes, and more printed and borrowed money. Wait and see. Redistricting Impact What impact will Republican redistricting have on US Congressional, State House and State Senate races in 2012? Assuming the courts find the newly drawn districts to be fair and legal, and I believe they will, what impact might you expect? No one knows for sure. The top of the ticket may play a key role in whatever happens. There is a world of difference in, for example, Perry of Texas and Huntsman of Utah on the R side. Perrys nomination would greatly impact the NC ticket. A Huntsman nomination would not. The state of the economy always is a key factor, certainly will be in 2012..maybe more so than ever. The districts themselves are competitive enough for Democrats to win a majority in both the House and the Senate. Whether they do so or not may be determined by how successful they

are in their fund raising efforts. You will recall, Republicans won in 2010 in districts drawn by the Democrats. Our ability to raise dollars on an equal basis with the Democrats contributed greatly to our taking both the House and the Senate in 2010. The Governors race may well be a significant factor in 2012. Hopefully, Pat McCrory will again be the GOP nominee. He came mighty close in 2010. Governor Perdues poll numbers are low and in head to head polling vs. McCroryshe fares poorly, about 20 points behind. U.S. Congressional Districts do not give an extraordinary advantage to either side. The mood of the electorate, the tea party influence and the economy will once again play a significant role in 2012 as they did in 2010. Time will tell. Well qualified and well-funded candidates from either side will be hard to beat and common sense might just prove to be the ace in the hole when other factors are equal. This is one election you dont want to miss.Stay tuned Civitas Poll Last Weeks Results: What will NC government look like after the 2012 election? Republican Governor, House, and Senate Republican Governor, Democratic House, Republican Senate Republican Governor and House, Democratic Senate Republican Governor, Democratic House and Senate Democratic Governor, Republican House and Senate Democratic Governor and House, Republican Senate Democratic Governor, Republican House, Democratic Senate Democratic Governor, House, and Senate Double Dip Recession We may already be there. I hope not. Will Congress face reality and reduce significantly our national debt? Will President Obama provide leadership, produce a realistic plan, one that can muster Congressional approval? I doubt it. Ive seen nothing to date which suggests he will. 83% 6% 3% 1% 3% 1% 0% 3%

Have you? Budget Crisis Written by: David Thomas, Chief Executive Officer, Equitas Capital Advisors LLC The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is so we created a breakdown of federal spending in simple terms. Let's put the 2011 federal budget into perspective: * * * * * * U.S. Income: Federal budget: New debt: National debt: Recent budget cut: $ 2,170,000,000,000 $ 3,820,000,000,000 $ 1,650,000,000,000 $ 14,271,000,000,000 $ 38,500,000,000 (or about 1 percent of the budget) over 10 years, even though the next Congress is not obligated to this promise

It helps to think about these numbers in terms that we can relate to. Let's remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family. * * * * * * Total annual income for the Jones family: Amount of money the Jones family spent: Amount of new debt added to the credit card: Outstanding balance on the credit card: Amount cut from the budget: $ 21,700 $ 38,200 $ 16,500 $ 142,710 $ 385 over 10 years, even though the family is not obligated to this promise

What bank would be foolish enough to allow this family to raise their debt ceiling even with guaranteed budget cuts? Would this family be allowed to raise their own debt ceiling without bank approval? That is what Politicians did. So in effect last month Congress, or in this example the Jones family, sat down at the kitchen table and agreed to cut $385 from its annual budget. What family would cut $385 of spending in order to solve $16,500 in deficit spending? It is a start, although hardly a solution. Now after years of this, the Jones family has $142,710 of debt on its credit card (which is the equivalent of the national debt). You would think the Jones family would recognize and address this situation, but it does not. Neither does Congress. The root of the debt problem is that the voters typically do not send people to Congress to save

money. They are sent there to bring home the bacon to their own home state. To effect budget change, we need to change the job description and give Congress new marching orders. It is awfully hard (but not impossible) to reverse course and tell the government to stop borrowing money from our children and spending it now. In effect, what we have is a reverse mortgage on the country. The problem is that the voters have become addicted to the money. Moreover, the American voters are still in the denial stage, and do not want to face the possibility of going into rehab.

Quote: If youre not a liberal at twenty you have no heart, if youre not a conservative at forty you have no brain. W. Churchill

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SENATOR JERRY TILLMAN SENATE MAJORITY WHIP 628 Legislative Office Building Raleigh, NC 27601-2808 Phone: 919.733.5870 Fax: 919.754.3339 jerryt@ncleg.net To unsubscribe, please reply to this e-mail with unsubscribe in the subject line.