As many Kentuckians know, the U.S. currently faces the largest federal debt in our nation's history. This kind of debt poses serious threats to our economy, national security and our place as the world leader. While this will involve making some tough choices, I believe the federal government must scale back its spending across the board, adopt Pay-As-You-Go rules that cannot be waived and adopt a two-year budget cycle.
I voted against the $700 billion Wall Street Bailout, the $787 billion stimulus bill, the $300 billion takeover of the mortgage industry and other wasteful Washington spending passed through the House of Representatives. I have also introduced legislation to ensure Congress pays for any new programs it approves. In addition, I have championed efforts to make Congress operate on a two year budget cycle, authorizing federal programs one year and the next year appropriating money for these programs. This will force Congress to take a second look at all federal programs and only fund those which are truly deserving.