Here’s how US can address its deficit now
Wyoming | April 15, 2021
Congress continues to take actions that directly threaten the US position as a world leader
The United States has long held a privileged position on the world stage. Our economy is strong. We build businesses, innovate solutions and pioneer new technologies. We are the centerpiece of the global economy, with nations looking to our systems and our currency as their barometer.
Unfortunately, Congress continues to take actions that directly threaten this position as a world leader.
By spending more than we have and acquiring a national debt that now sits at a jaw-dropping $28.2 trillion, we undermine our economy and will eventually lower the value of our own currency.
Our staggering national debt has direct and severe consequences for our economy, household incomes and savings, policy decisions, national security and ultimately, American exceptionalism.
Yet, Congress, with the support of both Democrats and Republicans, passes bill after bill with price tags in the trillions and we don’t make plans to pay for them.
When I was in the House of Representatives, I balked at our $14 trillion in debt. I voted against President Obama’s budgets mainly because of the high level of spending. Those proposals look prudent compared to what we’re churning out now.
At the rate we are going, the Congressional Budget Office has warned that the United States could soon spend more money on interest on the national debt than it does on defense….
(Excerpt from Fox News)