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Here are 4 takeaways from the @USCBO's report on the national debt. dailysign.al/31R3ni5 via @JustinBogie @DailySignal
Despite the strong economy, the nation remains in a precarious and unsustainable budget position, just as it was last year. Debt held by the public is set to rise to nearly one and a half times the size of the economy in the coming decades.
The current proposal put forth by House Democrats would raise spending by at least $357 billion over two years, driving long-term debt even higher.
The bottom line is this: If Congress is to avoid a debt crisis, it must implement strong spending restraints now.
The bottom line is this: If Congress is to avoid a debt crisis, it must implement strong spending restraints now.
The first step is to reject the deal proposed by House Democrats. Instead, Congress ought to prioritize essential federal functions, like national defense, and cut wasteful and duplicative domestic programs that the federal government should have no role in.
The true drivers of debt are our major entitlement programs: Social Security, Medicare, and Medicaid. Reforming these programs is essential if the country is to avoid a debt crisis and preserve these programs for the long term.
If lawmakers fail to act, they may not pay the price, but future generations of Americans will. The looming debt crisis poses a serious, moral question to each member of Congress: What legacy are you leaving behind?
When @SpeakerPelosi first went to Washington our national debt was $2.37 Trillion. For @SenSchumer that number was $988 Billion, and for @senatemajldr McConnell it was $1.828 Trillion. It is obvious our current leadership is the problem rather than the solution.
