New Government Report Shows Unsustainable Debt Levels

A new report from the non-partisan Congressional Budget Office shows the fiscal recklessness of President Obama and House Democrats is hurting our country and leading to skyrocketing debt.

Currently, the public debt stands at $16.7 trillion and is 73 percent of our GDP. The CBO predicts that the public debt will reach 100 percent of our economy by 2038.

According to the Hill’s Erik Wasson, economists warn if a country sees its public debt approach 100% of its GDP, it could see the same dire fiscal crises that many European countries have seen.

It continued to say that simply getting back to the debt level that was found when President Obama entered office would be a “herculean task.”

Only one party has proposed a balanced budget that responsibly deals with our entitlement programs. We need to preserve them and protect the promises made to seniors, while ensuring that they will be solvent for generations to come.

We also must ensure that we are growing the economy. There is simply no way to get our country even close to a sustainable fiscal path unless we’re creating jobs and middle-class Americans feel good about their paychecks.

Stand with the Republican majority in the House. We need more conservatives who will fight the policies of President Obama and Nancy Pelosi that raise the debt and stand in the way of job creation.