This week annual federal spending surpassed the $3 trillion mark for the first time in our nations history. In July the U.S. government spent more money - $332 billion than in any other month in history. The current deficit for the year stands at $1.27 trillion three times last years record of $459 billion.
The individual share of this years deficit for every American is $4100 - by fall that share will approach $6000. The national debt currently stands at $11.7 trillion or $38000 for every American.
Americans for Tax Reform estimates that the cost of government this year will consume 61.34 percent of national income. Working men and women spend 224 days out of the year just meeting costs imposed by the government - a full 26 days longer than last year.
Our nation is facing an urgent financial crisis that threatens our fiscal and economic stability. Our government is currently borrowing about 50 cents for every dollar we spend. Medicare is already paying out more in benefits than it collects and Social Security is expected to do the same in less than five years. Last month Doug Elmendorf Director of the nonpartisan Congressional Budget Office (CBO) noted that under current law the federal budget is on an unsustainable path …"
As a dedicated fiscal conservative I have opposed these reckless spending sprees regardless of who was in the Oval Office. I voted against $2.3 trillion under the Bush Administration and have voted against bills costing over $2.5 trillion this year. I have cosponsored H.R. 1557 the SAFE Commission Act which will help design legislation to address our current fiscal crisis and put us on a path towards economic stability.
I believe it is time to let Americans keep more of what they earn and for the government to spend less. It is time to start trusting and empowering individual Americans instead of the federal government. By taking these steps our economy will see the growth and prosperity that have defined America for generations.
This week annual federal spending surpassed the $3 trillion mark for the first time in our nations history. In July the U.S. government spent more money - $332 billion than in any other month in history. The current deficit for the year stands at $1.27 trillion three times last years record of $459 billion.
The individual share of this years deficit for every American is $4100 - by fall that share will approach $6000. The national debt currently stands at $11.7 trillion or $38000 for every American.
Americans for Tax Reform estimates that the cost of government this year will consume 61.34 percent of national income. Working men and women spend 224 days out of the year just meeting costs imposed by the government - a full 26 days longer than last year.
Our nation is facing an urgent financial crisis that threatens our fiscal and economic stability. Our government is currently borrowing about 50 cents for every dollar we spend. Medicare is already paying out more in benefits than it collects and Social Security is expected to do the same in less than five years. Last month Doug Elmendorf Director of the nonpartisan Congressional Budget Office (CBO) noted that under current law the federal budget is on an unsustainable path …"
As a dedicated fiscal conservative I have opposed these reckless spending sprees regardless of who was in the Oval Office. I voted against $2.3 trillion under the Bush Administration and have voted against bills costing over $2.5 trillion this year. I have cosponsored H.R. 1557 the SAFE Commission Act which will help design legislation to address our current fiscal crisis and put us on a path towards economic stability.
I believe it is time to let Americans keep more of what they earn and for the government to spend less. It is time to start trusting and empowering individual Americans instead of the federal government. By taking these steps our economy will see the growth and prosperity that have defined America for generations.
