Balancing the Federal Budget and Reducing the National Debt
Like most Idahoans, I am troubled by the United States’ growing debt. The impact of an ever increasing debt, if allowed to grow unchecked, can be disastrous for the economy. I am especially concerned that future generations of Americans will probably be the ones expected to pay down this debt. Unfortunately, without serious efforts to turn our debt crisis around, it is likely that the Treasury Department will be forced to continue to sell vast amounts of debt to finance the prospected record budget deficits. If we want to improve economic conditions in this country, Congress must act responsibly in the short-term to avoid being forced to purchase more debt, which puts the long-term health of the economy in jeopardy. This means drastically reducing discretionary spending, reforming entitlement programs, which are the major drivers of our debt, and fundamentally reforming our tax code. It also means passing a balanced budget Amendment to the U.S. Constitution.