Bottom Line: American families plan and budget for their households. If they do not have the money to take that family vacation, they do not go. Washington needs to stop spending money that it doesn’t have.Americans do not want Congress to mortgage the futures of their children and grandchildren. It is morally reprehensible to leave them holding the bag for our generation’s voracious spending habits. We should be leaving them a country where they will have as many opportunities as we do.
- Now is not the time to revert back to Washington’s culture of wasteful spending and lack of accountability.
- The Budget Control Act of 2011 was a bipartisan bill that instituted spending caps.
- Last week, the Congressional Budget Office (CBO) released their long-term budget outlook which found that the U.S. debt held as a percentage of the economy is at its highest level since WWII.
- The Congressional Budget Office report clearly underscores the urgent need for Congress and the President to act to cut spending and reform entitlements.
- Our nation is nearly $17 trillion in debt with a long-term outlook that shows rising deficits well into the foreseeable future.
- The reason we keep hitting the debt ceiling is because of years of trillion-dollar deficits and record federal spending.
- Americans want our leaders to put our country on a path to balance by pairing any debt increase with at least equal spending cuts. Raising the debt ceiling and allowing more borrowing without making reforms that will reduce future deficits is simply irresponsible.