Mar 31 2015
A Balanced Budget
For far too long, families in Nebraska and across the nation have been paying more and expecting less from an increasingly inefficient and out-of-touch federal government. While we have made progress, our nation is still not where it should be. Our $18 trillion debt isn’t just a threat to our economy – it’s a threat to our national security. Now is the time for us to offer bold solutions and tackle these problems.
You sent me to Congress to end this irresponsible mentality – to stop wasteful spending, balance our budget, and allow our economy to grow. Families all across Nebraska have been forced to tighten their belts. Now it’s Washington’s turn.
Last week, the Senate passed a budget that offers a realistic way forward. I was pleased to support this proposal, which adheres to three basic rules: cut spending, balance the budget, and do it all without raising taxes. This budget makes significant spending cuts over the next ten years, and ensures that taxpayer dollars are being used responsibly so we can move our country forward – rather than adding burdens on our families.
The red ink of our debt is here to stay until we make real changes. This budget preserves the needed pressure to compel Congress to make those hard decisions in order to properly fund the security of our nation. It also provides much-needed resources for infrastructure improvements in Nebraska and across the nation.
But in order to meet our responsibilities, Washington must learn to live within its means. That’s why this budget includes important spending cuts to remove waste, fraud, and abuse. In addition, the budget doesn’t raise a dime in taxes. Not one dime. The answer to our debt crisis isn’t taxing hardworking Americans more. Rather, the answer rests in a government that is wiser – a more prudent steward of the tax dollars already entrusted to it.
This framework will spur the kind of growth that Nebraska families care about. Our state understands this firsthand. Just last week it was announced that Nebraska has the lowest unemployment in the nation. This did not come easily, but it shows how tightening our belts can lead to future prosperity.
I am working to bring that Nebraska common sense to the federal budget process in Washington. We’re already seeing promising forecasts. Because of the spending reductions within our new budget, the Congressional Budget Office has estimated that the size of the economy could grow by 1.5 percent per person in the next ten years, providing an additional $1,200 dollars in income for families each year. With that extra money, you could save for your children’s college education, set aside for retirement, or take a family vacation.
The American people have given elected officials a sacred trust – to be good stewards of their hard-earned tax dollars. This budget meets the government's core duties in a responsible manner. With a focus on policies that foster growth, we can rescue a prosperous America for future generations.
Thank you for participating in the democratic process. I look forward to visiting with you again next week.