Saturday, March 28, 2015
Billy Long: We must protect our children from runaway debt
The majority of our national debt is simply a result of unnecessary, wasteful spending that is focused on the “here and now” rather than the future. There has also been a lackluster desire to fix budget-busting problems with long-standing safety net programs.
The debt is the total of yearly budget deficits over time and interest paid on borrowed funds from nations like China. Thankfully, the House has proposed a budget to reduce the deficit, diminishing the need to borrow, and begin reversing the debt.
The House’s A Balanced Budget for a Stronger America would cut $5.5 trillion in spending with no tax increases, and balance the budget in less than 10 years.
This budget takes several approaches to relieve Americans of constant regulatory pressure and tax burdens. It would repeal Obamacare, which has driven up health care costs through numerous tax provisions and driven down Americans’ full work potential due to employer mandates. States would have more control to shape education, food stamp and Medicaid programs to meet their needs, benefiting all Americans. This budget would simplify the tax code. The budget would not only increase fiscal security but also strengthen national security.
Balancing the budget should be common sense. Every American balances their budget to make ends meet. Why should the federal government be any different? The proposal is a solid step to reverse reckless spending. I support this budget to strengthen our nation, to clean up our fiscal house for American families and protect our children from a runaway debt burden.