Budget, Spending Cuts, and Debt
Over the last two years overall discretionary spending has increased by 24%.
Over the last two years overall discretionary spending has increased by 24%. Our federal deficit for this year alone is projected to be $1.5 trillion. When the federal government is borrowing $58,000 per second, cutting spending is not a luxury; it is a necessity. Congress must not miss an opportunity to end the unsustainable status quo and has a responsibility to break down fiscal barriers to job creation and economic prosperity.
Throughout my time in Congress, the American people have been subject to partisan politics and a fiscal disaster because the Senate abandoned their obligation to fund the government for the remainder of FY2011. This mess was created by Democrats who failed to pass a budget despite the fact they had control over the House, Senate, and the White House. Chairman Ryan showed political leadership by putting forth a plan that stands in stark contrast to the President’s plan that locks in a spending spree and continues reckless policies. Chairman Ryan’s proposal cuts $6.2 trillion in spending over 10 years, and brings our nation’s debt into primary balance by 2015. The Chairman’s willingness to make the tough choices reduces deficits by $4.4 trillion, and puts the budget on a path to balance and pays off the debt. While these cuts may seem drastic at first glance, it is important to realize that if we do not get our spending under control now, there will be no safety net for our most vulnerable populations. The United States cannot be a competitive force in our global economy, or fulfill our obligation to improve the quality of life for the next generation unless we stop spending money we don’t have.