$4 million – that's how much will be added to our national debt in the two minutes it takes to read this message. $3 billion is being added each day.
Federal spending is 25% of GDP and climbing. By comparison, in the post World War II era, federal spending has averaged only 20 percent of GDP. The predictable but devastating result of this over-spending is massive deficits and debt. Debt has reached truly alarming levels. Something must done quickly to cap federal spending and cut wasteful programs that serve the needs of politicians in Washington rather than the constituents they represent.
If we are going to get serious about restoring fiscal sanity in Washington, we need to start by returning federal spending to 20% of GDP (preferably less) within the next five years and capping it there. This will require restraint, discipline and a Congress with the guts to stand up to fear mongering and pandering.
Naturally, this will require making hard choices on spending, including entitlement programs that many Americans rely upon.
We need to have an adult conversation about the four major entitlement programs that pose the greatest threat and political challenge to our nation’s fiscal future: Social Security, Medicare, Medicaid, and Obamacare. We need to repeal Obamacare. I have proposed a specific plan to block grant Medicaid to the states and cut its budget by 20 percent in the first two years. As far as Social Security and Medicare, we need to put in place a plan to ensure their solvency for future generations. While we must protect current retirees and those nearing retirement, promises that cannot be sustained are promises without honor. All reform options need to be on the table, beginning with raising the retirement age for younger Americans.
Besides the big four entitlements, our government has 125 programs designed to address poverty. Spending on these programs has increased $193 billion since President Obama and Congressman Polis took office. I have made some proposals on how I would reform and restructure these programs to reduce spending while better aligning our social safety net with our values. Read my proposals here.
The budget is riddled with obsolete, duplicative and ineffective programs, as well as programs that exceed the federal government’s appropriate scope. Here are just a few cuts I would propose:
Cut funding to the Export-Import Bank. Read my proposition here.
Cut the Congressional budget to 2008 levels, saving $300 million annually.
Align federal compensation with private sector pay, a current discrepancy of 30-40 percent, saving $47 billion.
Jared Polis has been part of the problem in Washington, not part of the solution. Polis has voted to expand government. Millions more Americans have become dependent upon entitlement programs since he took office. Instead, I would work to give Americans the tools they need to achieve their own American dream.
And Kevin Lundberg, my opponent in the June 26th Republican Primary, doesn’t seem to take cutting government seriously either. In his 10 years as a legislator, only 4 of the 93 bills Lundberg sponsored actually reduced the size, scope or cost of government.
Colorado voters cannot afford to send another go-along, get-along Congressman to Washington. If we are going to turn this country around and put our economy back on track we need to put an end to out of control spending, roll back debilitating taxes and regulations on business and get Americans back to work with a hand up, not a hand out.
I want to take Colorado values TO Washington, not build a career IN Washington.