As Ohio families struggle to live within their means, the federal government is on a spending spree, piling up new deficits onto our massive debt. The current deficit levels are unsustainable and create uncertainty in the economy that deters the investment and risk taking that encourages economic growth.
Washington's fiscal irresponsibility passes the problem to future generations, mortgaging the future of Ohio's children and grandchildren. Serious steps are necessary to get our fiscal house in order.
We face difficult choices and we must work together to develop the right balance between our short-term interests and our long-term fiscal health. In my view this balance must result in a balanced federal budget. As tempting as it might be to sacrifice the long-term economic stability for short-term political gain, it is not the responsible choice. I understand that reducing deficits through pro-growth policies and keeping federal spending under control are the cornerstones of fiscal responsibility.
The following charts reveal the challenges America faces from runaway spending and debt. These charts – which are based on a “current-policy budget baseline” that assumes current tax and spending policies continue – emphasize the importance of reforming entitlements to rein in budget deficits and ensure they’re secure for today’s seniors and future generations.
Submit Your Ideas to Reduce the Deficit
Have an idea to reduce our nation's deficit? Please visit my "reduce the deficit" section and leave your thoughts.