By Cong. Randy Neugebauer
Last week the national debt officially surpassed $13 trillion. $13000000000000. Thats a lot of zeros and more debt than any one nation should ever face. According to the International Monetary Fund the outlook isnt good for the U.S. debt situation.
If we continue at this rate by 2012 our debt will surpass our Gross Domestic Product (GDP). This means the size of our debt will be greater than annual output of our economy.
To put it frankly we are stealing the futures of our children and grandchildren. In just two years our nation has borrowed nearly $2.5 trillion that has been added to the debt.
Interest payments alone on this debt will approach $1 trillion or one out of every five tax dollars by 2020. China Japan and the other nations financing our debt will be forced to take a look at how fast this massive debt is growing and may reconsider loaning the U.S. money.
Its going to take extremely difficult decisions to stop borrowing and adding to this debt and bring spending back in line with the amount of revenue coming in.
Addressing the growing debt starts with having a budget that doesnt spend more than $1 trillion more than whats coming in as President Obama has proposed. Addressing the debt means we look at what the appropriate size of government should be rather than raising taxes to avoid making the tough choices.
I have introduced
The Tax Limitation Amendment to make it more difficult for Congress to raise taxes going forward and the
Taxpayer Certainty Act that would prevent a massive tax increase next year when the 2001 and 2003 tax relief expires. I am also a cosponsor of HJ Res 1 the
Balanced Budget Amendment that would force the federal government to balance its budget-- like 49 or our 50 states already do.
The national debt is not a new concern but its surging and rapid increases have raised this issue to a new urgency. When you are borrowing 42 cents for every dollar spent you know there is a problem. The governments credit card is maxed out and we need a budget that addresses the situation.
National Dairy Month
June is National Dairy Month and a reminder of the importance of dairy products in our diets and our nations economy.
Dairy products like milk cheese and ice cream contain essential nutrients including calcium and potassium. These products may help to reduce your risk for high blood pressure osteoporosis and certain cancers. No matter what your age a glass of milk helps to build strong bones and muscle.
To learn more about dairy and how you can celebrate this month I encourage you to visit
www.nationaldairycouncil.org. I hope you and your family will celebrate the many benefits of dairy this June.
Mobile Office Hours
Starting today members of my staff will be hosting mobile office hours across West Texas and the Big Country to visit in person with constituents. The 19th District staff will be available to assist with veterans benefits Social Security concerns and many other issues.
If you are experiencing problems with a federal government agency or want to share your opinion on issues in Congress I invite you to come and visit with a member of my staff while they are in a location near you.
Throughout the week my staff will set up shop in:
- Graham
- Friona
- Archer City
- Hereford Gail
- Dimmit
- Post
- Lockney
- Albany
- Plains
- Jayton
- Cross Plains
- Seminole
- Littlefield
- Ranger and
- ODonnell
For information on the location date and times of the mobile office hours
please visit my website. In the event you are unable to attend the Mobile Office Hours in your area I encourage you to contact my office any time toll free at 888-763-1611.
In the meantime do not hesitate to visit my website or call my office toll free district wide at (888) 763-1611 or my Washington DC office at 202-225-4005.
