Budget and National Debt
Over the past two years under President Obama, federal spending has risen from an already astronomical level of $25,000 to $31,000 per household. President Obama’s Fiscal Year 2012 budget will increase the national debt to more than $20 trillion ($138,000 per household) by 2020 by operating with large budget deficits. This type of debt and reckless spending will ultimately fall on the backs of our children and grandchildren and must end. The federal government needs to function like hard working American families and live within our means.
In 2009, our national debt stood at $9.8 trillion. Today, it stands at over $14 trillion with annual budget deficits over $1 trillion the past three fiscal years. Just as a family facing a budget crisis, Washington, D.C. must reign in wasteful spending and I’m committed to working with members of both parties to do this. In the 112th Congress, we have committed to eliminating earmarks and getting our fiscal house in order. In addition, we need to review waste and duplicative programs that can be eliminated to save taxpayers’ funds.