OPINION:
In the 21st century, the growth of federal government spending has been a problem. Since COVID-19, spending has reached alarming levels, and it is past time for Congress to address its addiction to spending.
As the national debt skyrockets past $32 trillion, burdening future generations and jeopardizing economic stability, it should be increasingly evident for lawmakers in Washington to rein in out-of-control spending.
The current levels of spending can’t be allowed to continue. President Biden and his leftist allies in the federal government have dramatically increased federal spending.
In the last few years, Democrats have rammed through trillions in new spending and want to spend trillions more on leftist pet projects.
Republicans aren’t much better on the matter. With so much partisanship today, the one thing that Republicans and Democrats in Washington clearly agree on is spending taxpayer dollars recklessly.
Trillions of dollars in national debt does not bode well for future generations, and interest payments continue to be larger portions of the federal budget. In 2022, net interest payments hit the highest nominal dollar amount in our nation’s recorded history at a staggering $475 billion.
Soon, our children and grandchildren will be forced to take up the responsibility of repaying this enormous economic burden for which we are responsible. The prospect of future generations inheriting an economic catastrophe should be a significant concern to every lawmaker in Washington.
The current state in which the federal government is burning through hard-earned taxpayer dollars is unsustainable and poses a substantial threat to the long-term economic health of our country. If we neglect to address our fiscal state, we could see $50 trillion in national debt by 2030.
That is an alarming figure. Massive debt slowly erodes confidence in our economy and hinders investment and economic growth. Aren’t the solutions to these problems common sense?
The problem is political posturing from both parties. Both Republicans and Democrats have their funding wish lists, but the time for political gamesmanship is over.
Paying off the national debt will not happen overnight. It must be an annual commitment by lawmakers to pay off our debts and return our nation’s fiscal path to a more positive outcome.
Fiscally conservative lawmakers in the House of Representatives are advocating appropriations to pass at fiscal 2022 levels. Why? This commonsense plan prevents additional spending.
During the COVID-19 pandemic, the size and spending of the federal government exploded.
When Democrats passed the American Rescue Plan, it was intentionally done to bloat the bureaucracy, knowing that it would be nearly impossible to bring funding back to normal levels. With a Republican-controlled House — the “fiscally responsible” party — this may very well be the only chance to slow down negative growth.
If Congress does not reset discretionary spending, COVID-19 spending levels will become accepted as the new normal.
Investors and entrepreneurs will lose faith in the system if the debt continues to balloon without restraint. Reducing the national debt requires a bipartisan effort and a comprehensive approach to fiscal responsibility.
While addressing the debt will undoubtedly involve making tough decisions and potentially cutting certain programs, it is necessary for the long-term stability and prosperity of the United States.
Our nation’s fiscal state is a grave concern that must not be taken lightly. The consequences reach far beyond current generations, burdening future Americans with a heavy financial load.
It is imperative that we address this issue now and develop a responsible plan to reduce and manage our national debt. Several House Republicans are devoted to reversing our nation’s dire financial trajectory, but every member of Congress should take this seriously as appropriations season is upon lawmakers in Washington.
• Adam Brandon is president of FreedomWorks.
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