-------- Original Message -------- Subject: Responding to your message Date: Fri, 31 Jan 2014 10:40:01 -0500 From: Sen. Mark Warners Office To: Dear Mr. Evans, Thank you for contacting me regarding our countrys debt and deficit challenges. I appreciate hearing from you about these important issues. As the former Chairman of the Joint Chiefs of Staff, Admiral Mike Mullen, has said, the greatest threat to our national security is our national debt. The United States cannot remain competitive in a global economy while underinvesting in national priorities such as research and development, infrastructure, and education. During my time in the Senate, I have consistently engaged in bipartisan efforts to find a pathway for a larger, more holistic solution to nations $17 trillion debt problem. A comprehensive approach would reduce spending in all parts of the budget, reform and strengthen our entitlement programs, and examine reasonable ways to increase revenue. It also creates a more appropriate opportunity to ensure burdens are more equally shared by a larger population instead of singling out individual groups to get our country back on a better fiscal track. Historically, the only time that our country has had a balanced budget is when both spending and revenue is around 20 percent of GDP. We need to recognize that while federal spending as a percentage of our gross domestic product (GDP) is above its 40-year average, the amount of revenue that the federal government takes in is below the 40-year average. Any serious plan to address our debt and deficit must find reasonable ways to address both sides of our balance sheet while also taking into account our nations demographic changes. Following 16-day government shutdown, a Budget conference committee was formed to negotiate funding levels between the two chambers, led by Representative Paul Ryan and Senator Patty Murray. In early December, Representative Ryan and Senator Murray announced an agreement, known as Bipartisan Budget Act of 2013, which set funding levels for the next two years and allows us to step away from the irrational harm of sequestration, while keeping the overall deficit reduction numbers of the Budget Control Act of 2011. On December 18, 2013 the Senate passed the Bipartisan Budget Act of 2013 by a vote of 64-36. The House had previously passed this bill 332-94 and the President signed it into law on December 26, 2013. The Act replaces $63 billion of scheduled sequestration cuts in fiscal years 2014 and 2015, evenly split between domestic and defense discretionary spending, and provides about $20 billion in additional deficit reduction. The deal is fully paid for by $35 billion in non-tax revenue, $6 billion in defense savings, and $22 billion in savings from mandatory programs spread out over the next ten years. Hopefully, these efforts signal positive development for a Congress that routinely has avoided tough choices, funding the government instead through a series of short-term deals. I will continue to work with my colleagues to build bipartisan support for addressing our long-term fiscal challenges. Again, thank you for contacting me. For further information or to sign up for my newsletter please visit my website at warner.senate.gov. Sincerely, MARK R. WARNER United States Senator
Posted on: Fri, 31 Jan 2014 15:52:33 +0000