6 Reasons Why the National Debt Keeps Rising
Cutting spending should be so easy. It would be with a balanced budget amendment. If you don’t have it, you can’t spend it.
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Out-of-control spending by Congress and the Obama Administration has once again maxed out the latest debt limit—a nearly $17 trillion burden that harms job growth, gives special interests a pass, and lowers American families’ personal income.
Inspired by Dave Ramsey’s recent post “6 Reasons People Stay in Debt,” we compiled six reasons why Members of Congress, the Obama Administration, and others in Washington avoid the path to financial stability in favor of big spending…
1. They want to keep up appearances.
The truth is, ever-growing entitlement programs drive ever-greater government spending. Everyone knows it. Some leaders in both parties have even worked together on first-step solutions agreeable to both sides. Yet rather than risk Warren Buffett’s taxpayer-funded benefits decreasing, politicians pretend America’s national budget can handle all the extensive promises they’ve made over the past several decades.
2. They are unwilling to sacrifice even wasteful spending.
Like a recent guest on “Hannity,” some in Washington will defend even the most ridiculous spending. Yet Congress could eliminate billions in spending tomorrow. Heritage expert Patrick Louis Knudsen, who spent two decades working on the House Budget Committee, recently went line-by-line through the federal budget to find $42 billion in unnecessary, poorly run, and duplicative federal government programs.