Every dollar that the United States government adds to our national debt to fund today’s spending is a dollar stolen from the next generation. Our current national debt stands at over $29 trillion. To put that in perspective, that level of debt equates to approximately $225,000 per U.S. household.
The United States Government collected a record $3.4 trillion in taxes and other revenue in FY 2019. This should be enough to cover the federal government’s obligations to defend the homeland, address infrastructure, and provide for a basic social safety net. However, Democrats seem to have a spending addiction—and they use YOUR tax dollars to fund projects that serve special interests at the expense of hardworking Americans.
The massive increase in government spending has another harmful effect on Americans. U.S. Treasury bond sales cannot keep pace with the rate of spending. Therefore, the Federal Reserve is manipulating the money supply by also “printing money” through quantitative easing and other tools. The effect is to devalue the currency, threaten the dollar’s status as the world’s reserve currency, and deflate the value of Americans’ savings. Congress needs to reduce and cut spending, and such experiments in modern monetary theory need to be terminated.
Other legislative actions
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|6/7/18||Davidson Statement on Rescission's Package|
|5/18/18||Davidson Statement on Farm Bill|
|10/26/17||Davidson Statement on Budget as Path to Tax Reform|
|5/23/17||Davidson Statement on President Trump's FY 18 Budget|