Brian4Liberty
10-23-2017, 03:21 PM
Dave Brat: Big spending feeds the D.C. swamp (http://www.richmond.com/opinion/their-opinion/guest-columnists/dave-brat-big-spending-feeds-the-d-c-swamp/article_20d88f5d-4809-5eb9-88ac-496c37e5e1d1.html)
By Dave Brat - Oct 21, 2017
Big spenders in Washington have run up more than $20 trillion on our nation’s credit card with no plan to pay it back. The debt limit is a legislative tool that gives Congress the opportunity to examine how current policies affect spending, deficits, and debt — and correct course before a crisis hits. However, Congress has gotten into the bad habit of approving debt-limit increases without a single fiscal reform or spending cut.
Since I first ran for Congress, I have been a leading voice explaining why spending, deficits, and debt matter. Two weeks ago, I was appointed by Speaker Paul Ryan to serve on the Speaker’s Debt Ceiling and Deficit Reduction Working Group with a small group of my colleagues.
The debt-limit suspension we passed in September was a bad deal and a missed opportunity for Republicans who know we can do better.
Some Democrats have proposed doing away with the debt ceiling altogether. This is the height of irresponsibility — no financial institution or business could ever be run this way.
***
Further cementing the almost care-free attitude from those on the other side of the aisle toward federal spending, over half of House Democrats voted for a progressive budget two weeks ago.
It contains more than $10.1 trillion in tax increases, adds $2.6 trillion in debt, includes $11 trillion in additional spending, and never balances the budget. Yet you have not heard a word of this because the mainstream media and the swamp in D.C. love our addiction to spending.
...
Washington’s debt problem is not a revenue problem. The U.S. Treasury took in more revenue last year than the previous year as our economy continues to recover. The problem comes from the spending side of the ledger and the annual expectation that the swamp will spend more, and more, and more.
Last year, at the Department of Education, spending rose by a whopping 45 percent. At the Department of Housing and Urban Development, 117 percent. And interest on our national debt increased by $28 billion, or 10 percent. Interest on our debt seems inconsequential now, but if we stay on our current trajectory, by 2047, debt will consume one out of every five dollars.
Before we consider an increase to the debt limit at the end of this year, Congress and the president must enact long-term statutory spending controls with enforcement mechanisms.
For example, I support linking a debt-ceiling increase to enforceable spending caps as a percentage of GDP. A balanced budget amendment makes a lot of sense, but when I introduced one last year only 50 out of 435 members of Congress signed on.
My fellow House Freedom Caucus members are often used as a punching bag by the media when we try to keep our promise to limit out-of-control spending. We get hit at every turn, yet the media lack the courage to challenge the other side of the aisle, which has never even come close to producing a balanced budget and only offers a budget that feeds the swamp with more spending and taxes.
...
I hear folks say, “Just work together and get something done.” But we cannot just continue the status quo of funding the swamp as usual. Major change is needed if you want to see major change occur.
...
More: http://www.richmond.com/opinion/their-opinion/guest-columnists/dave-brat-big-spending-feeds-the-d-c-swamp/article_20d88f5d-4809-5eb9-88ac-496c37e5e1d1.html
By Dave Brat - Oct 21, 2017
Big spenders in Washington have run up more than $20 trillion on our nation’s credit card with no plan to pay it back. The debt limit is a legislative tool that gives Congress the opportunity to examine how current policies affect spending, deficits, and debt — and correct course before a crisis hits. However, Congress has gotten into the bad habit of approving debt-limit increases without a single fiscal reform or spending cut.
Since I first ran for Congress, I have been a leading voice explaining why spending, deficits, and debt matter. Two weeks ago, I was appointed by Speaker Paul Ryan to serve on the Speaker’s Debt Ceiling and Deficit Reduction Working Group with a small group of my colleagues.
The debt-limit suspension we passed in September was a bad deal and a missed opportunity for Republicans who know we can do better.
Some Democrats have proposed doing away with the debt ceiling altogether. This is the height of irresponsibility — no financial institution or business could ever be run this way.
***
Further cementing the almost care-free attitude from those on the other side of the aisle toward federal spending, over half of House Democrats voted for a progressive budget two weeks ago.
It contains more than $10.1 trillion in tax increases, adds $2.6 trillion in debt, includes $11 trillion in additional spending, and never balances the budget. Yet you have not heard a word of this because the mainstream media and the swamp in D.C. love our addiction to spending.
...
Washington’s debt problem is not a revenue problem. The U.S. Treasury took in more revenue last year than the previous year as our economy continues to recover. The problem comes from the spending side of the ledger and the annual expectation that the swamp will spend more, and more, and more.
Last year, at the Department of Education, spending rose by a whopping 45 percent. At the Department of Housing and Urban Development, 117 percent. And interest on our national debt increased by $28 billion, or 10 percent. Interest on our debt seems inconsequential now, but if we stay on our current trajectory, by 2047, debt will consume one out of every five dollars.
Before we consider an increase to the debt limit at the end of this year, Congress and the president must enact long-term statutory spending controls with enforcement mechanisms.
For example, I support linking a debt-ceiling increase to enforceable spending caps as a percentage of GDP. A balanced budget amendment makes a lot of sense, but when I introduced one last year only 50 out of 435 members of Congress signed on.
My fellow House Freedom Caucus members are often used as a punching bag by the media when we try to keep our promise to limit out-of-control spending. We get hit at every turn, yet the media lack the courage to challenge the other side of the aisle, which has never even come close to producing a balanced budget and only offers a budget that feeds the swamp with more spending and taxes.
...
I hear folks say, “Just work together and get something done.” But we cannot just continue the status quo of funding the swamp as usual. Major change is needed if you want to see major change occur.
...
More: http://www.richmond.com/opinion/their-opinion/guest-columnists/dave-brat-big-spending-feeds-the-d-c-swamp/article_20d88f5d-4809-5eb9-88ac-496c37e5e1d1.html