Cutting Federal Spending
Jan 27, 2016The federal budget has doubled since 2002 and now totals an astonishing $4 trillion dollars. It remains the single biggest drag on economic growth and job creation because wasteful government spending crowds out productive private investment. Three-fourths of the budget is entitlement spending, which is fueling the outsized debt our children will someday have to pay off with much higher taxes. Unfortunately, the best chance to get the Obama administration to negotiate on entitlement reform was scuttled this fall with another back room deal by Washington insiders undoing automatic budget sequestration and adding another $112 billion to domestic discretionary spending. This has got to stop. We need across the board budget reductions to get our federal finances in order once and for all, because no matter how you finance big government spending-whether taxes, borrowing, or printing money-it all comes out of your pocket.