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Path to Prosperity offers Positive Vision for the Future

April 7, 2014
Weekly Columns

In order to overcome our nation’s serious economic challenges, we must have a real plan with real reforms. Upon release of the “Path to Prosperity” budget blueprint for fiscal year 2015, Chairman Paul Ryan and the House Budget Committee again shared a positive vision for the nation’s future. This marks the fourth consecutive year that we have offered solutions that actually address our more than $17 trillion of debt and set forth a path to achieve balance.

Hardworking American families already understand the reality of living within their means, and it’s high time for the Democrat-led Senate and Administration to join House Republicans in setting that same example for the rest of the country. Currently as it stands, neither has brought up legislation that would balance the budget in 10 years, 20 years or ever for that matter. That is not only unacceptable but dangerously unsustainable.

House Republicans are willing to work with the president where possible and find common ground that will move our debt trajectory downward instead of increasing at an exponential rate. The House Republican budget unveiled last week and expected on the floor for a vote this week would put our country back on fiscally firm footing by cutting wasteful spending, reforming entitlements and the tax code, repealing Obamacare and reducing the size of government.

The United States government is currently suffering from a spending addiction, and the first step is acknowledging the problem—not adding to the problem. Under the Obama Administration, we have seen more than $6.5 trillion added to the national debt. Rather than hear ideas about slowing down or changing the direction of that problem, we have instead only heard the president call for new programs. Regardless of the program’s value, it is unacceptable to burden hardworking Americans with even more debt by not also offering a pay-for or corresponding cut to spending. Instead of calling for new spending, House Republicans recommend $5.1 trillion in spending cuts, including $2.8 trillion from Obamacare and Medicaid spending.

I am encouraged that the Republican budget again keeps the focus on the true driver of our debt: entitlement programs. Without reform, Medicare is set to go bankrupt by 2026. In order to preserve this program for future generations, we must immediately modernize the system. That’s why the FY15 budget transitions Medicare to a premium support model for those 56 and below. While many have criticized this change, we must remember that every year that we do not act it becomes more difficult to preserve the current programs for those already at or near retirement. In fact, the Congressional Budget Office (CBO) has confirmed that a premium support model would decrease federal spending and decrease cost for beneficiaries.

Since its inception, we’ve anticipated the problems with Obamacare, including lower quality of care, higher premiums, more taxes and out-of-pocket expenses and burdensome mandates. Republicans have continually voiced their opposition to the law and voted for full or partial repeal at every given opportunity. I am pleased that the Republican budget again repeals this unworkable law that costs more and offers less than the previous system.

This new budget reflects the Republican vision for the future and allows us to control our destiny, rather than dangerously depending on our creditors and in so doing increasing the size of government. As in years past, the introduction of the Republican budget is a reminder that our financial problems are very real and must be addressed. We can get the national debt under control and expand opportunity for hardworking Americans, but we cannot do it alone. I hope that this year’s budget will encourage the Senate and Administration to finally work with the House to find a responsible, balanced solution.

Issues:Economy & Small Business