Time to Change the Way Washington Spends Taxpayer Money
by Congressman Mike Pence
There is a perfect storm of runaway spending and out of control debt that threatens the strength of our country and our children’s future prosperity. We are running out of options to address the fiscal crisis and the time to act is now.
Over the last five years, federal spending has skyrocketed from $2.5 trillion to more than $3.5 trillion. This year, Washington is expected to spend $1.5 trillion more than it will collect in revenue. According to the non-partisan Congressional Budget Office, the government ran up a $655 billion deficit in just the first five months of this fiscal year.
In less than fifteen years the public debt will exceed the value of the entire U.S. economy. If it is not stopped, there remains little doubt that America’s economy will follow the same path as Argentina and Greece.
The rising costs of health care and entitlements are the leading causes of this national spending emergency. There is no question that we need common sense health care reform that will lower costs without growing the size of government. We also need to strengthen entitlements to ensure we keep our promises to seniors and those in need. But these measures alone do not address the underlying cancer afflicting our nation’s fiscal health – the appetite in Washington to spend without regard to the taxpayer.
Lawmakers from both political parties have promised repeatedly to bring fiscal responsibility to the nation’s capital. Too often, those promises were broken, and our children will soon pay the price. After years of trying to rein in federal spending under Republican and Democrat administrations, the American people want fiscal discipline and they want new ideas.
What will the impact be of the Obama budget?
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What it will cost
How it will affect our children and their future
About sensible alternative the Republicans have offered.