Our debt crisis is probably the most pressing issue that our nation faces. Our debt is so large that our whole county could work for an entire year and contribute every penny to pay it down, and we still wouldn't get rid of it. Our children and grandchildren's tax dollars have already been spent and things keep getting worse.
We need to admit that both parties are to blame for racking up trillions of dollars on the nation's credit card. Our country's debt was not something that happened overnight. It stems from decades of failed leadership from both sides have the aisle. The unfunded liabilities attributed to the United States in the form of Social Security and Medicare are estimated to be around 100 trillion dollars, a sum that we cannot hope to pay back by going down the path we've been on. I believe that Paul Ryan is on the right track when he points to entitlement reform as something that must happen in order to avoid a crisis similar to that which Europe is currently experiencing. The debt crisis facing the United States is one of the most preventable calamities that our nation has ever faced. We can solve the problem by phasing out, reducing, and/or replacing entitlement programs with more efficient solutions.
To force the career politicians to finally act, I strongly support a balanced budget amendment and will co-sponsor such an amendment.