Debt Ceiling

Submitted by kvaughn on Thu, 07/14/2011 - 01:00

As the Aug. 2 deadline to raise the debt ceiling looms, neither party seems to be getting the message. It is immoral to continue to borrow money from our children.

Our country has had an irresponsible budget for decades, but in October 2008, our deficits skyrocketed. Both parties argued that the spending would be temporary, but current deficit projections demonstrate that we will reach debt levels that can cause economic collapse within the next five years. If we are to protect our future, we must change course now.

It is disappointing that neither party has yet to offer a proposal that would balance the budget any time in the next two decades. Neither party has offered a proposal that would prevent us from reaching the same debt ratio that Greece had when its economy collapsed. In other words, neither party has proposed a solution that avoids a default; they have only proposed solutions that delay a default.

It is time for leadership – and hard choices. I agree with Sen. Marco Rubio (R-FL), who believes that the only thing worse than failing to raise the debt ceiling by Aug. 2 is continuing our nation on its current path to a certain debt crisis.

We have a moral obligation to eliminate the debt. This will require cutting the federal budget by roughly one-third. These cuts will only be sustainable if we also adopt a set of pro-growth policies to jumpstart the private sector economy. I have made detailed proposals to both cut spending and grow our economy, but I need your help to spread this message.

America is facing a difficult challenge, but together we can restore America to a sustainable future and return to the pro-growth policies that will provide a strong economy and create high-paying, private-sector jobs.