Our current spending levels are unsustainable. This is based on reports from the General Accounting Office (GAO), the Congressional Budget Office (CBO), and the actuaries and trustees for Social Security, Medicare, and Medicaid. Our politicians are borrowing from future generations to buy votes today and to empower themselves. We are also printing enormous sums of money, which will lead to inflation and a weakened currency. It encourages profligate spending. It is a drug for our addicted profligate politicians.
The welfare state is expanding even as it is collapsing. Our entitlements are broken. We are mortgaging our future and burdening generations to come. We have nearly $19 trillion in on-budget debt (larger than our economy) and more than $200 trillion in unfunded liabilities, the brokest, most bankrupt nation in world history. Interest payments alone will consume our budget. We are headed for a fiscal and economic calamity that will fall on our children and grandchildren. We must reduce spending. I endorse a balanced budget and limits on spending of 18% or lower of the GDP. I support zero-based budgeting, not “baseline” budgeting with it’s automatic spending increases. I back sunset provisions on programs and departments. The government, like regular Americans, must live within its means.