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Balancing the Budget and Saving the Surplus

Taking Power from Washington to the People

We must balance the budget and limit the size of government. For too long Congress has focused on growing the government instead of the economy. I believe that if we are to realize our full potential as a country we must focus our efforts on promoting economic growth by letting people keep more of what they earn.

Congress is only beginning to focus on deficit and debt reduction. Eliminating the deficit is only a means to a more limited federal government. We must continue to cut wasteful spending, eliminate unnecessary programs, consolidate duplicative ones and privatize programs that can be better served by the private sector.

For the first time since 1969, the federal government will soon run account surpluses. This represents a major turning point in the fiscal condition of our nation. We can seize this opportunity by dedicating this surplus toward cutting taxes, reducing the burden of debt that has been placed upon our families, and saving Social Security. Or, we can tragically squander the budget surplus on more wasteful government spending.

Major Components of the Federal Budget

As I see it, if people overpay their taxes, it is our moral duty to give them their money back in the form of lower taxes, lower interest rates with less debt, and a reliable Social Security system.

Specifically, Congress should:

  • Pass tough budget enforcement legislation that would prohibit Congress from breaking the budget agreement of 1997. Congress must enforce the spending limits of this bipartisan budget.
  • If revenues exceed expenditures, and a budget surplus occurs, Congress should use those revenues for cutting taxes, preserving the Social Security Trust Fund, and reducing the burden of debt - not for more federal government programs!

In short, this emerging budget surplus is an opportunity to reshape the direction of our federal government. It presents us with two choices:

  1. We continue down the path of higher taxes and more spending to empower the federal government to do more in our lives; or
  2. We empower individuals with the ability to do more for themselves and their families by allowing them to keep more of their own money, so they do not have to rely on the federal government more.

Growing up and living in Janesville, Wisconsin in a large family taught me to value self-sufficiency, responsibility, and compassion for my family and friends. To me, the future direction of the federal government is more than a simple policy issue - it's a moral issue. It will determine whether we will have the tools and the means to be self-sufficient, responsible and to care for others. If we continue down the path of investing more of our hard-earned money in the federal government, then we will do so by surrendering more time with our families, by relinquishing more choices to Washington, and relying more on the compassion of Washington than on that of our family and friends.

Cutting taxes, reducing the burden of debt, and protecting Social Security is more than an economic issue - it determines whether we will be able reach the American dream.

To see how large the public debt is, click here.