The federal government has spent far beyond its means. Total federal spending will top $4 trillion in 2018 for the first time – adding up to $33,000 per household.
The first step to fixing the problem is to freeze discretionary spending for 2019. While tax reform was a great step in the right direction toward fairer policies for hard-working Americans, the federal government should tamp down on irresponsible spending, ensuring that it performs only its key duties. Go here to learn more about our Stop Overspending (SOS) campaign.
The federal government should make sure the programs on which it spends money meet these five criteria:
Necessary: The federal government should spend only on what is mandated in the Constitution: defense and protecting our individual rights.
Limited: We must establish federal budget controls that limit how much the government can levy burdensome taxes on the American people, preventing irresponsible spending.
Sustainable: The federal government should not spend more money than it takes in through taxes. We need to limit the debt-to-GDP ratio and curb spendingfor our large entitlement programs: Social Security, Medicare and Medicaid.
Effective: Congress should not try to distort the market through corporate welfare, subsidies, mandates and tax credits which pick winners and losers in the market, making many people worse off.
Prioritized: Many programs funded by the federal government are duplicative, wasteful or exceed their constitutional bounds. These should be abolished. Moreover, welfare programs should be means-tested. Only those truly in need should receive those benefits.