It's Past Time to Balance the Budget

Press Release

Last week, for the first time in history, our national debt exceeded $30 trillion. For far too long members of both parties have put off the tough decisions needed to get our country's fiscal house in order, passing the buck to future generations. Unfortunately, my Democrat colleagues would still rather raise taxes and continue their reckless spending sprees than curb their spending addiction. Raising taxes is not the answer because we do not have a revenue problem in this country -- we have a spending problem. In fact, every year since the Tax Cuts and Jobs Act -- tax reform President Trump signed into law -- was enacted, revenue has increased.

The first bill I ever co-sponsored was the Balanced Budget Amendment, and I have consistently fought to reduce our deficit and debt since then. Amending our Constitution should never be taken lightly, but it's clear that the only way to get Washington to spend responsibly is to require it. If American families and businesses can balance their budgets -- along with nearly every state, including Nebraska -- the federal government should do the same. Our children, and our children's children, cannot afford for us to wait.

In fact, out-of-control government spending has already led to an economic crisis across this country. Take for example Democrats' $1.9 trillion stimulus package. While the Biden Administration would have you believe the American Rescue Plan Act (ARPA) -- the largest "stimulus package" in American history -- was intended to combat COVID-19, less than 10 percent of the funding went toward COVID-related measures. There was bipartisan opposition to the ARPA, and I voted against it because we cannot tax and spend our way to prosperity.
While the administration has used funding included in the ARPA for things such as bailing out states and housing illegal immigrants, American families are grappling with the highest rate of inflation in 40 years. Gasoline costs are up 40 percent and grocery costs have risen nearly 7.5 percent over the last year. While there are several causes of inflation, the Biden Administration's reckless spending, failure to address our supply chain crisis and refusal to reopen America for business are driving the pinch Americans are feeling at the gas pump and grocery counter.

Unfortunately, it seems President Biden is just as unserious about balancing the budget as Democrats in Congress; his administration missed this week's statutory deadline to submit a budget for Fiscal Year 2023. The Biden Administration has had more than a year to show us their priorities, and they have: spend, spend, spend, tax, tax, tax. Democrats' failure to put forward a serious budget also stalls the appropriations process. The appropriations process allows members of Congress to look at federal spending with a fine-tooth comb, set priorities and eliminate waste, fraud, and abuse as needed. Instead, we've had to rely on short-term funding measures to keep the government open. Short-term funding bills lead to increased uncertainty while also handing over the power Congress has to closely examine federal expenditures. This is no way to do the People's business, which is why I opposed the short-term funding bill passed by the House this week.

As I've said before, we can no longer afford the tired playbook of the same failed policies from Washington. If we want to grow our economy and leave our country better for future generations then we must rein in out-of-control spending; allow hardworking American families to keep more of what they earn through permanent tax relief; and get the federal government out of the way of American innovation and ingenuity.

While I believe the best way to get serious about addressing our debt is to balance the budget, I will continue to oppose reckless spending while holding the administration accountable for failing to address the challenges Nebraskans are facing.

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