Conversely, the budgetary policy under President Obama has not had the best interest of our children and grandchildren in mind. These policies have put us on a path to a bankrupt federal government with trillions in new debt, an anemic economic recovery, and a federal budget that continues to run large annual deficits without balancing or attempting to pay off our debt. We have a projected $100 trillion in unfunded liabilities because many of our most important programs are on an unsustainable course. For example, Medicare and Social Security are expected to become insolvent in less than twenty years, which would be devastating for future retirees.
Our budget recognizes the urgent need to act to remedy these issues so the United States does not become the next Greece or Spain. We reject the premise of leaving future generations to suffer with a fiscal crisis. Instead, we reverse these harmful policies and offer fiscally responsible, pro-growth solutions to put the nation on a sustainable fiscal course.
Our plan balances the budget in less than 10 years without raising taxes and cuts $5.5 trillion in spending, placing our nation on a path to pay off the debt by growing the economy and making government more efficient, effective, and accountable. It repeals the President’s healthcare law and strengthens vital programs like Medicare and Social Security to ensure a secure retirement for seniors and future recipients. Our budget plan provides for a strong national defense through robust funding for troop training, equipment, and compensation. Rejecting the idea that Washington knows best, this House budget gives power back to the states and cuts waste, eliminates redundancies, and ends the practice of Washington picking winners and losers in our economy.
The Senate also passed its budget last week, and now the House and Senate will work together to reach a consensus plan in April. These budget resolutions are not signed by the President; they instead establish the framework for Congress to consider spending and revenue bills. In May, the House will begin considering 12 annual appropriation bills for the next fiscal year based on the amount of discretionary spending we have allocated in our budget resolution. As we send fiscally responsible spending measures to the President, I hope he will join us in the effort to get our fiscal house in order so that we can grow our economy and build a stronger America for our children and grandchildren.
If you need any additional information or if we may be of assistance to you, please visit my website at hurt.house.gov or call my Washington office: (202) 225-4711, Charlottesville office: (434) 973-9631, Danville office: (434) 791-2596, or Farmville office: (434) 395-0120.
Robert Hurt represents Virginia’s Fifth District in Congress.