Advocating smaller, more focused, less costly government since 1996.
February 25, 2019
Individually addressed and mailed to the DC offices of selected members of Congress (see below).
Gross federal debt recently passed the $22 trillion mark, and it is rising some $1 trillion per year. A recent Congressional Budget Office projection showed federal debt held by the public growing substantially faster than the US economy over the next 30 years and hitting a percentage of Gross Domestic Product well above the end-of-World-War-II peak.
Painful adjustments would become unavoidable long before 2049. These might include tax increases (for everyone, not just “the rich”), hollowing out of the US military and other traditional government functions, and reduced entitlement benefits.
Chronic budget deficits have been spawned by bipartisan irresponsibility, but no one seems to be claiming ownership – let alone offering credible solutions. Indeed, the current focus isn’t reducing deficits at all, it is figuring out how to avoid $126 billion in Obama-era budget caps that are set to kick in this October (for fiscal year 2020).
For the next two years, we would recommend that Congress operate in damage control mode. Prune spending where possible (OMB has offered many suggestions), don’t hike taxes, and don’t expand existing entitlement programs or create new ones.
All presidential candidates in 2020 should be urged to commit to balancing the federal budget by 2025 and explain specifically how they would propose to do so. One of the three presidential debates should be devoted to discussion of the fiscal problem. The winner would hopefully keep his or her promises with strong support from the members of Congress.
Further thoughts on this subject are posted on line. Browser path: Secure America’s Future Economy – Blog – 2/18/19 & 2/25/19.
Your support for our proposals would be greatly appreciated. If you have questions or comments, please direct them to email@example.com.