The states must balance their budgets by law. The federal government borrows 42 cents of every federal dollar spent. Under Obmama, the size of the federal government has increased. Who pays for government? The taxpayers. More government means less money for the private sector.
Government has no wealth (money), except what it "takes" from individuals or their enterprises, or what it "borrows," or what it "prints" out of thin air. When it borrows, the people, for generations, are responsible for repaying it. When it "takes," that removes creative capital from the economy. When it "prints," the inflation is just another form of taxation.
Reducing government payrolls, at every level, is a good thing--not a contributor to a "weak economy," as he claims.
One might be reminded of the line from the 1776 Declaration of Independence regarding the actions of King George which prompted the colonists to assert their Creator-endowed individual rights to freedom from coercive government:
"He has erected a multitude of new offices, and sent hither swarms of Officers to harass our people, and eat out their substance." Would it have mattered that King George did that to provide "employment" and benevolent "services" to the colonists?
"To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:39
"I deem [this one of] the essential principles of our government and consequently [one] which ought to shape its administration:... The honest payment of our debts and sacred preservation of the public faith." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:322
"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23
"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40
"Is it now high time for the people of this country to explicitly declare whether they will be free men or slaves. It is an important question which ought to be decided. It concerns more than anything in this life. The salvation of our souls is interested in this event. For wherever tyranny is established, immorality of every kind comes in like a torrent, it is in the interest of tyrants to reduce the people to ignorance and vice.” - Samuel Adams
And:
“The utopian schemes of leveling and a community of goods, are as visionary and impractical as those which vest all property in the crown. These ideas are arbitrary, despotic, and, in our government unconstitutional.” - Samuel Adams