Month after month, in poll after poll, Americans identify out-of-control government spending and debt among their greatest concerns; Washington may finally be ready to listen.
In a Roll Call piece yesterday several lawmakers admitted they are wary of new spending measures that aren’t offset. Rep. Gerald Connolly (D-VA) explained, “[W]e’re in a recovery … So now we do need to have a higher standard when we call for new spending. And that higher standard has to include, “What’s the offset?”’ Connolly’s colleague, Rep. Earl Pomeroy (D-ND) said simply, “we need pay-fors.”
In a speech in Washington last week, Chairman of the Joint Chiefs of Staff Mike Mullen warned: “I’ve said it several times publicly –I think the biggest threat we have to our national security is our debt.”
Federal overspending is hurting economic growth now and guarantees higher taxes, interest rates, and inflation – combined with fewer job opportunities, among other repercussions.
Many European leaders, as we noted yesterday and last week, have already begun reforms to address their nation’s unsustainable spending. It’s time for leaders in Washington to act like leaders, and do the same.
