A balanced budget. It’s something every American household has to abide by and something a large number of states have to live within. Unfortunately, it’s become the federal government’s ‘white whale’ for more than ten years. And our failure to balance the budget has resulted in record high deficit spending and unimaginable debt – more than $16 trillion currently.
But the era of unbalanced budgets could be a thing of the past. That’s because House Republicans have submitted our budget for the 2014 fiscal year and it balances within ten years without any additional tax increases.
On the other side of Capitol Hill, we are seeing something very different. For the first time in almost four years, Senate Democrats have finally submitted a budget. Unfortunately, their budget raises taxes by nearly $1 trillion…and still doesn’t balance the budget, ever. And, instead of working towards a balanced budget, the Senate Democrats’ budget actually increases spending. They even included another $100 billion in additional so-called ‘stimulus spending’! As if their $1 trillion failed stimulus package wasn’t enough of a boondoggle, they want more. It’s clear the Senate Democrats’ budget shows they have no concern for our debt or the impact it will have on future generations, and they don’t plan to do anything to address the impending debt crisis.
In contrast, the House Republican Budget would balance the budget within ten years without raising taxes, will reduce spending over the next ten years by $5.7 trillion, and will replace the expensive and controversial ObamaCare law with patient-centered health care reforms. Our budget reflects our priorities and embodies what we believe we need to get to a healthier economy and create more jobs. It gives businesses the certainty they need to grow and thrive and lets families keep more of their hard-earned money by not raising taxes.
I encourage you to visit www.budget.house.gov to learn more about the House Republican Budget.