US Congressman Tom Marino (R-10th) warned the attendees at the WEDCO Annual Meeting Wednesday night that this nation is on a path towards “financial destruction.”


US Congressman Tom Marino (R-10th) warned the attendees at the WEDCO Annual Meeting Wednesday night that this nation is on a path towards “financial destruction.”
He spent the dinner hour at Bryn Mawr Conference Center going table to table greeting people, representatives of Wayne County industry, business and government. WEDCO President Jim LaBar gave an overview of progress in the past year of developing Wayne County economically. On a broader scale, however, a  major hurdle to prosperity is the shadow of the growing mountain of national debt.
As part of the large freshmen class of Congressmen making up the Republican majority in the House of Representatives, Marino said they know why they were sent to Washington. He pledged to be faithful to his promises of working to cut spending, cut taxes and downsize the federal government.
These goals, he said, would foster job creation.
Presently, the United States debt is $14.4 trillion. Spending continues to out pace revenue. This course, he said, is taking this nation on a path of financial destruction, one which is worsened by China’s aggressive economic climb.
“China is nipping at our heels,” he noted. China has become the second largest exporter and is determined to promote their currency as the most stable. China continues to buy all it can, and steal our intellectual property and pharmaceuticals.  China’s goal is to upset our economy, and will succeed if this nation does not act, Marino warned.
“It did not happen over night,” he noted. Debt has accumulated over the last 40 years. When President  William Clinton left office, our debt was approximately $5 trillion. When President George W. Bush left office, debt had reached to nearly $10 trillion. In the last 18 months under the Obama Administration, Marino stressed, we have added almost another $5 trillion in what we owe.
Every day, he pointed out, this nation must pay $1.3 billion  in interest.
“Imagine what we could do with that money,” he added.
While crediting the 112th Congress for making history in the past three months, making major cuts without even a budget, he said the Senate Majority Leader Harry Reid hasn’t allowed most of their legislation on the floor.
The Congress has called for nearly $100 billion in cuts, which he admitted is still small compared to the nearly $15 trillion debt.
With no love shown for the nation’s top Democrats, Marino said of President Obama, House Minority Leader Nancy Pelosi and Senate Majority Leader Harry Reid, “In my opinion, they have never worked an honest day in their lives.”
He derided the President for his “tax and spend” credentials and socialistic views. He warned that Obama wants to run health care, the automotive industry and the banking industry- yet the government can’t even run the Post Office or Amtrak.
Asked if he would vote to raise the debt limit, he said he was not clear what approach he would take,  except that he would only do so if there were substantial cuts.
A second question dealt with how to get the countries where we have waged war in recent years, to pay back what they owe us. Marino said that it would be a long time before Iraq could pay us back, and much longer for Afghanistan, but Kuwait continues to pump oil and owe us billions of dollars from the Persian Gulf War. Marino said he supports recouping our expenses in products such as oil, where cash is not forthcoming.
Marino urged the crowd to press their legislators to cut spending. No real progress, however, will come until there is a change in the presidency and Senate, he said.

[Editor's note: Another story is planned highlighting WEDCO's annual report and economic development in Wayne County, PA.]