Today, our national debt stands at nearly $20 trillion. That is more than $60,000 for every man, woman and child in America. Looked at another way, it amounts to $225,000 for every family in America. In January 2009, the month that President Obama took office, the national debt stood at $10.6 trillion. He left office after doubling the national debt.
There is enough blame to go around for both parties and it is long past due that we curb this appetite for spending money we simply do not have. The former Chairman of the Joints Chiefs of Staff, Mike Mullen, stated in 2011 that the national debt was the greatest threat to our nation. It is immoral to burden future generations of Americans – our grandchildren and great grandchildren – with debt that this generation incurred.
America’s level of debt is unsustainable. The legacy of too much spending by both political parties continues to harm our economy, undermine economic growth and hamper job creation. Putting our nation on a sustainable path toward a balanced budget is necessary to create a healthy economy and build a stronger America.
Balancing our budget and paying down the debt will require that we make hard choices about what we can and cannot afford. The federal government continues to bring in more in tax dollars each year than the year before, but it has failed to curb spending. Clearly, Washington’s problem is that it has an addiction to spending money it does not have.
We must continue to oppose efforts by liberals in Washington to raise taxes – and instead focus on curbing spending and growing our economy. A strong and robust economy will help us grow our way out of the fiscal problems created under the Obama Administration.