Washington spending has grown significantly since 2007 and has exploded in the last 19 months. In fact, discretionary spending has increased 84 percent as Washington now spends $7 million dollars every minute of every day.
In January, I met with a group of Randall High School seniors to talk about our country’s financial problems. At the time, each of them owed $39,000 as his or her share of national debt. Since then, that number has grown nearly three thousand dollars to $42,739. We cannot continue to mortgage away the future of our children and grandchildren.
Here are some of the short and long-term ideas proposed to rein in the spending:
- Canceling the $266 billion in unspent stimulus funds;
- Reduce spending from current levels and impose a hard cap on future growth to generate a savings of more than $340 billion;
- Cuts more “stimulus” spending;
- Reduce the size and scope of government;
- Permanently end taxpayer-subsidized bailouts;
- Hold weekly votes in Congress on proposals to cut spending;
- Impose a hiring freeze for the federal bureaucracy;
- Reform the budget process to ensure that Congress begins making the decisions that are necessary to update entitlement programs to secure them for today’s seniors and for future generations.
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