Our federal budget is a critical part of keeping our government functioning. It sets the boundaries and framework for how much money the federal government should spend on various federal programs and agencies. It is a fundamental measurement to help control spending and balance federal expenditures. However, for the past few years, the national debt has risen at an alarming rate. Just like a credit card can garner debt, so can the government.
Federal spending is defined by three different categories – mandatory, discretionary and interest on the debt. Mandatory spending addresses entitlement programs such as Social Security and Medicare. Discretionary spending addresses the larger aspects of funding that include several federal agencies and defense spending. The remaining portion is on the interest we pay on our national debt.
As the national debt increases, Congress has struggled to find a fiscally responsible solution that would control spending and balance the budget. Earlier this year, the House Budget Committee crafted a budget that would do just that, and it passed on the House Floor in the previous week with my support. The Fiscal Year 2018 budget will make cuts to unnecessary expenditures, improve our military and national security, reform entitlements and set forth a tax plan that will promote economic growth. Moreover, it accomplishes balancing the budget in a ten year span. This is key to establishing responsible spending practices and an efficiently-run government.
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