April 10, 2014 
A Balanced Budget
 

Washington has a spending problem. On July 24th of this year, the federal government will spend the  last of our hard-earned taxpayer dollars and start borrowing money to cover our obligations. It’s no surprise that our national debt is $17.5 trillion and growing—that’s a little over $55,000 for every man, woman, and child in the country.  Additionally, Medicare is going broke, and unless we reform the program, Americans 53 and younger will receive fewer Medicare benefits than current retirees receive. But that’s not the worst of it: our unfunded liabilities—those mandatory payments for Social Security, Medicare, and military and government pensions that the federal government will be required to pay in the future—total $86.8 trillion. That’s nearly $400,000 of debt for every person in America.

Today, House Republicans passed a budget to address Medicare’s insolvency without affecting benefits for anyone born before 1958. For younger Americans, the Ryan budget restructures Medicare into a premium support system to reduce costs for both the government and the individual. Today’s younger Americans will also be able to choose between private insurance plans or traditional Medicare. In addition to strengthening our national defense and setting our social safety net programs on a path to long-term sustainability, our budget balances—unlike anything offered by President Obama or House Democrats. Families balance their budget. Texas balances its budget. It’s inconceivable to me that the federal government won’t balance its budget. In fact, on the first day that Congress was in session, I made a point to coauthor and introduce balanced budget amendments to the Constitution.

House conservatives are working to put our country back on the right track. Since 2011, we’ve forced Washington to reduce total annual spending for two straight years—the first time since the Korean War—and we have rolled back our annual spending levels to 2006-2007 levels. This is a step in the right direction, but there’s still much more work to be done. The Republican budget builds on this past success in reducing federal spending. We use the same common-sense solutions that any financial advisor would give a family whose budget was in similar shape: stop spending money you don’t have on things you don’t need.

We know what needs to be done to boost the economy, and the House Republican budget repeals Obamacare to clear the way for patient-centered reform, provides families with a fair, simple tax code to create jobs, and secures seniors’ retirement by strengthening Medicare. These reforms, which you can read more about here, are vital to stopping Washington spending and freeing the American economy. 

Sincerely, 


John Culberson

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