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Mr. Chairman, the Federal Government has a spending problem.
Last week, the Government Accountability Office released a report estimating that the government made $124 billion in improper payments during 2014. Wasteful spending like this is one of the reasons the national debt has skyrocketed to $18 trillion today.
Divided among 320 million Americans, a child born today inherits $56,250 in debt--or $225,000 for a family of four. Americans work too hard to have the government waste their tax dollars. It is time to start our country on a new course. This Republican budget puts America on a more sustainable and responsible fiscal path.
In my district, there are over 130,000 Medicare-eligible residents and over 169,000 Social Security recipients. This budget keeps the promises that have been made to our seniors and to those near retirement age by stabilizing the Social Security trust fund. It also grants flexibility to the States on Medicaid, allowing them to craft their own programs to serve the needs of their States and their local communities.
This budget also enhances our national security. Former Chairman of the Joint Chiefs of Staff, Admiral Michael Mullen, said our debt is ``the single biggest threat to our national security.'' Over 20 percent of it is held by foreign governments.
By balancing within 10 years, this budget ends deficits and slows the amount that will have to be paid to other countries. With less spending needed for debt payments, more future funding can go to our national security.
This is a budget for solving problems and creating a better future. This budget addresses our country's fiscal problems in a responsible way, without raising taxes, and puts our Nation on a brighter path for our children and grandchildren.
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