With the National Debt rapidly closing in on $20 trillion, we must seriously consider our fiscal situation. If our debt was spread evenly among all citizens, we would each owe over $61,000; that number jumps over $104,000 if the debt were to be paid only by taxpayers. This is not a system we can leave to our children and grandchildren.
As Senate Majority Leader in Michigan, I led the charge to restore fiscal restraint when we faced mounting budget deficits. I am committed to approaching the federal debt in the same way. We must carefully consider our budgetary needs, properly allocate funding to the core functions of government, and look for ways to find savings everywhere we can.
I am also a firm supporter of adding a balanced budget amendment to the United States Constitution. Over the past decade, Michigan families have had to tighten their budgets to face the reality of a stagnant economy. Michigan families do not have the luxury of running up trillion dollar deficits, and they shouldn’t be called on to finance Washington’s. Our seniors, middle class, and future generations are relying on us in Congress to take a responsible approach to reduce federal spending and pay off our skyrocketing national debt, and adopting a balanced budget requirement is a good first step.