Issue Position: Economy, Federal Spending & Taxes

Issue Position

Senator Murkowski believes the national debt and deficit is the most important issue facing the country. With unemployment hovering around eight percent nationwide and sluggish economic growth many American families are struggling just to get by. To set the nation on a more stable financial path, Senator Murkowski believes it's critical for Congress to set sustainable funding levels for the federal government, reduce overall spending levels, and enact comprehensive tax reform and mandatory spending changes.

For too long, the U.S. government has been spending more than it takes in and then borrowing huge sums of money to make up the difference.

Learn more about us debt.

At this point the nation is borrowing 40 cents of every dollar it spends, a practice that has driven the national debt to unprecedented levels and set the stage for a critical debate about the proper size and role of government. America is facing some difficult decisions about priorities, but Senator Murkowski believes the current fiscal path is simply unsustainable.

The Senator believes smart spending reduction measures will target the nation's $16.9 trillion debt, and this means focusing on both discretionary and mandatory spending. Mandatory spending accounts for over 55 percent of the annual budget and interest payments make up six percent. These payments on autopilot are out of control and are project to make up a combined 72 percent of annual spending by 2021.

Senator Murkowski laid out her concerns and vision in town halls across Alaska in 2011, explaining that difficult decisions need to be made to solidify the nation's financial future. Since that time, she has continued to travel the state speaking to Alaskans about the country's continuing fiscal problems and the need for comprehensive reform.

Senator Murkowski believes the President has a responsibility to lead and to offer credible ideas that will put the nation back on a sustainable fiscal path. Instead of offering solutions to address discretionary and mandatory spending as well as tax reform, the President has failed to present a budget on time four of the last five years.

Senator Murkowski's view has remained constant from what she shared with Alaska at her economic town halls. To build a sustainable fiscal path forward for our country and future generations, the U.S. needs:

A targeted package of real spending cuts -- not the piecemeal approach that has become commonplace in Washington, D.C.

Comprehensive tax reform that lowers rates, broadens the tax base and cuts the number of deductions and loopholes.

Responsible reform of mandatory spending, including change to avoid funding that amounts to waste, fraud and abuse.

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