According to CBO in its annual Budget and Economic Outlook report released yesterday, our national debt is expected to grow by a staggering $9 trillion over the course of the next ten years and the cost of the interest payments on the debt alone will rise to 5.6 trillion—roughly 13.5 percent of total federal spending. The longer we wait to act, the more difficult it will become to put in place real reforms to control spending and reduce our over $18 trillion national debt. As a long-time proponent of a balanced federal budget, I have signed onto several bills in this session of Congress that call for balancing the federal budget and controlling spending by moving to a biennial budget process at the federal level. Learn more about these efforts here: goo.gl/BSmgvK #idpol
Posted on: Tue, 27 Jan 2015 23:24:51 +0000
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