In recent years, our national debt has ballooned to $16 trillion and counting. Despite campaign promises to cut it in half, during President Obama's first term he added $5.9 trillion to this tally, making his administration responsible for roughly 35 percent of our total debt. That amounts to more than $52,000 for every man, woman, and child. Our national debt, if left unaddressed — and uncontained — will continue to threaten to our economic and national security and jeopardize the vitality of future generations.
Americans aren’t better off now than they were $5 trillion ago. Unemployment remains high, millions more have dropped out of the work force entirely, and the cost of everything from gas to groceries continues to rise. Despite this, Senate Democrats have not passed a budget in nearly four years.
As a member of the conservative Republican Study Committee, I’m committed to addressing the root of the problem--runaway government spending. House Republicans will continue fighting to restore fiscal sanity to Washington and change the culture of reckless spending. Reducing and capping federal spending at a percentage of the GDP, enacting a balanced budget amendment, and requiring that with every dollar of increased borrowing authority , we decrease spending by the same amount will help us put our fiscal house back in order.
Another measure to heighten accountability could be implemented with a change of rules in the House of Representatives. This common-sense rule would provide for an increase in the debt ceiling only with passage of appropriations bills. In other words, Congress must know the amount it is spending in order to know how much money to borrow. Eliminating waste, fraud, and abuse from federal programs must also be a top priority.
Drastically reducing government spending, implementing pro-growth tax reforms and addressing entitlements are key to ensuring our path to prosperity. I will continue opposing any attempt to tax, spend, or borrow money at the expense of future generations.