The Need To Reform The Drivers Of Our Debt
There is no question Congress must put our fiscal house in order. The debate surrounding spending cuts and increases, fundamental budgetary reform, and raising revenue will only intensify in the face of an exploding debt. Each February, the President submits a budget to Congress outlining spending proposals for the upcoming fiscal year.
The President has just submitted the budget for fiscal year 2019 to Congress and the document includes some shared goals with the Administration, such as fortifying our borders, investing in infrastructure and combating the opioid epidemic just to name a few. Republicans have also supported the President’s goal for increased defense spending and improving our national security. The budget caps agreement recently passed by Congress allows for $700 billion and $716 billion respectively for defense in the next two years. This provides the necessary funding to restore readiness and improve war-fighting capabilities. President Trump’s recently submitted budget advocates for $686 billion for the Department of Defense, which is in line with the recently agreed-upon budget deal.
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