Fiscally Conservative Spending
The government is so large that the activities of hundreds of federal agencies are beyond the knowledge and understanding of most citizens. The government has also become too large for our representatives in Congress to adequately oversee and control. It is imperative for lawmakers to get the nation’s finances in order immediately by applying a fiscally conservative approach to federal spending and restructuring entitlement programs. Putting off the difficult decisions until the federal budget’s condition deteriorates further will result in much harsher and more expensive policy choices.
The federal government is spending too much, running large deficits, and heading toward a financial crisis. Total federal outlays increased 68 percent during the eight years of the Bush administration fiscal years 2001 to 2009 with large increases in defense, education, health care, and other areas.
Those increases have come just as the baby boomers begin to retire and the costs of federal entitlement programs are beginning to balloon. Spending on the three main entitlement programs Social Security, Medicare, and Medicaid is expected to roughly double from $1.27 trillion in FY08 to $2.42 trillion by FY18. We must also eliminate Pork barrel legislation. No more bridges to nowhere!
Where will the money come from? If government spending is not cut, Americans will face huge tax increases that dwarf anything seen in decades and significantly damage the economy.
- Freeze discretionary spending.
- Rein in runaway entitlement spending.
- Reform the US federal budget process with a Balanced Budget Amendment
- Identify programs in the budget that can be cut, terminated, transferred to the states, or privatized.