Budget & the Deficit
Government overspending is creating a huge burden of debt that threatens the economic well-being of our children. Our national debt of more than $19 trillion has saddled us with liabilities over $58,000 for every adult and child in America. Federal agencies continue to ask for more, while wasting money on expenditures like luxury hotel rooms, sporting event tickets and alcohol. Asking Americans to accept increases in the debt limit instead of removing the hundreds of billions of dollars of redundant, duplicative waste among government agencies is irresponsible.
Arizona families understand the need for budgetary restraint as do households all across the nation. The current economy and credit crisis have reminded us all of the need to live within our means. One of my top priorities is to protect citizens from unnecessary and wasteful government spending and force Washington to live within its means
I believe government’s bad habits can be turned around with intelligent discretionary-spending cuts. The Government Accountability Office and the Congressional Budget Office both have identified billions of dollars of waste that could be eliminated, making programs and services more efficient and delivering tax dollars where they are truly needed.
I have sponsored legislation that identified trillions of dollars in liquid assets the federal government could tap into to boost revenues and eliminate the deficit. By combining assets sales from Fannie Mae and Freddie Mac, Mortgage Backed Securities, the broadcast spectrum and Federal Real Property in addition to a sweeping of unobligated Appropriations balances.
More on Budget & the Deficit
WASHINGTON—House Speaker Paul Ryan (R-WI) today announced his appointees to two bipartisan, House-Senate select committees, including a panel that will pursue reforms to the budget and appropriations process.