Our nation borrows forty cents on every dollar it spends. An increasing amount of our debt is being held by China and other foreign nations. Every man, woman, and child in the U.S. owes nearly $50,000 if the national debt were divided equally amongst our 300 million citizens. The health of our nation's finances is not a Republican issue or a Democrat issue: it's an American issue that must be faced head-on.
A balance can be struck between protecting the government benefits we have all come to enjoy while preserving the American Dream for future generations. There are many creative solutions that can come to the forefront if there is an open and honest debate.
Spending cuts must occur in the 2012 budget, and long-term spending plans must be in place to curb the debt that is accruing at an increasing rate. The House passed a 2012 budget that begins to tackle many of the outstanding spending issues. The U.S. Senate has not passed a budget since 2009 and has yet to respond officially to the 2012 budget proposed by the House.
I did not vote for the Budget Control Act, which I believe does little to represent the interests of the 25th Congressional District by consolidating representation into the hands of a few select House and Senate members. The Debt Commission is examining long-term spending cuts, and I hope to be able to examine these proposals as they develop.