The federal budget continues to be one of the most debated and complex issues facing America. To help understand the budgetary work that you and I have to do, I encourage you to review The Heritage Foundation's recently released "Federal Spending by the Numbers 2012." The Heritage Foundation, a policy think-tank, has put together an excellent array of charts and explanatory notes highlighting our budgetary challenges.
Specifically, the report notes that total federal spending has increased "71 percent faster than inflation" over the past two decades. This means that spending is consuming an ever greater share of our national economy, as measured by Gross Domestic Product (GDP). The primary drivers of this spending are Medicare, Medicaid, and Social Security. Heritage estimates that by 2048, spending on these three programs will consume all of the government's tax revenues. That leaves no tax revenue for defense, interest on our outstanding debt, nutrition programs, education, health research, NASA, veterans, the environment, national parks, or anything else.
Clearly, we are on an unsustainable spending trajectory that must be curtailed. As Congress begins to address the "Fiscal Cliff," please know that I am committed to reforming our federal spending.