Spending & Debt
The surging debt and persistent deficits run up by the federal government are a threat to our economy, national security, seniors, and veterans. Today, every American’s share of the national debt is roughly $53,000. That would pay for a family’s groceries for nearly seven years or a four-year degree at the University of Pittsburgh at Johnstown.
To appreciate the burden of debt, consider the liberating effect when you pay off that car loan or get ahead of the credit card bill. You are then free to make other purchasing decisions for your family. You have more freedom to choose and prioritize how to spend your money.
The same principle applies to our national deficit and debt. Getting our debt under control would allow more freedom in how the government spends hard-earned taxpayer dollars. Rather than making interest payments to China, we could be investing in roads or health care.
When mothers, fathers, and small business owners face budget problems, they sit down around the kitchen or office table with notepads, pencils, and calculators, and get to work. They prioritize spending and make the tough but necessary decisions.
It is time for President Obama and Congress to adopt the same common-sense practices of budgeting and prioritization that parents and hardworking folks in the private sector use every day.
