With the national debt over $14 trillion and this year’s budget deficit estimated to be $1.65 trillion, we absolutely must get serious about cutting government spending. To put those numbers into perspective, each taxpayer in America is responsible for nearly $130,000 in U.S. debt. We must act now to get our fiscal house in order.
In an effort to curb government spending, I’ve sponsored the Debt-Buy Down Act, which allows taxpayers to designate up to 10% of their federal tax dollars to pay down the national debt, while forcing Congress to cut government spending across the board by the same amount. The bill does not require any additional taxes but allows taxpayers more control over how their tax dollars are allocated.
If Congress won’t cut spending, then we need to give taxpayers the opportunity to do it on their own.
