In 34 of the last 38 years, the federal government has spent more money than it has taken in. Over the last 40 years, federal spending has increased by 60 percent, to more than $22,000 per household. In 40 years, Social Security, Medicare, and Medicaid are projected to consume the entire federal budget. The current share of the national debt for each American is nearly $30,000.
I think everyone can agree that these figures are startling and that we cannot allow such a broken process to continue unabated. Yesterday, my colleagues and I at the Republican Study Committee heeded these warnings and rolled out an ambitious fiscal reform agenda. Known as the “American Taxpayer Bill of Rights” this proposal will lay the foundation for resolving the fiscal nightmare that is our current budgetary and spending process. Click here for the full proposal.
The kind of irresponsible behavior we have seen over the last 40 years can no longer be sustained by raising taxes or simply passing our debts on to future generations. We must resolve the systemic shortfalls in the fiscal process. Americans deserve a system that is based on responsible budgeting, smart decision making, and more transparency.
As such, we at the RSC believe the American taxpayer has the right to expect their government uphold the following standards:
* Taxpayers have a right to have a federal government that does not grow beyond their ability to pay for it.
* Taxpayers have a right to receive back each dollar they entrust to the government for their retirement.
* Taxpayers have a right to expect the government to balance the budget without having their taxes raised.
* Taxpayers have a right to a simple, fair tax code that they can understand.
To follow this agenda as well as other fiscal matters in the coming Congress, I would encourage you to visit my new blog at Townhall.com called “The Green Eyeshade.” At this site, I will be using my background as a CPA to open the books of the federal government and keep Congress accountable. To check it out click here.