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.
Cosponsored Legislation
H.R. 417 - Recognizing the national debt as a threat to national security
Other legislative actions
Voted for H.J. Res. 2 - Proposing a balanced budget amendment to the Constitution of the United States
More on National Debt & Government Spending
April 2019
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4/9/19 | Token Taxonomy Act to Address Blockchain, Innovation Flight in America |
December 2018
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12/6/18 | Rep. Davidson Supports Kraninger as Head of CFPB |
November 2018
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11/15/18 | On Fox News, Rep. Davidson talks Freedom Caucus, GOP Elections, and Midterms |
September 2018
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9/26/18 | Spending Bill Spends too Much, Breaks Promises |
July 2018
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7/17/18 | House Passes Bill to Modernize Financing for Innovators |
June 2018
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6/22/18 | Rays of Hope in Ohio: Davidson Applauds House Action Combating Opioid Crisis |
6/7/18 | Davidson Statement on Rescission's Package |
May 2018
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5/18/18 | Davidson Statement on Farm Bill |
October 2017
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10/26/17 | Davidson Statement on Budget as Path to Tax Reform |
May 2017
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5/23/17 | Davidson Statement on President Trump's FY 18 Budget |