As Congress faces another funding deadline, the fiscal outlook for the United States remains uncertain. The central issue is America's growing debt crisis, primarily driven by unsustainable mandatory spending.
In a Wall Street Journal opinion piece, Chairman Tom Cole argues that addressing this issue is essential for securing future prosperity. He calls on lawmakers and reform leaders to collaborate on solutions to tackle what he describes as the greatest threats to America's long-term success and security.
Cole emphasizes the importance of tackling mandatory spending, which accounts for 72% of the federal budget. Discretionary spending has declined over decades and now constitutes only 28% of the budget. "The nation will be snowed under unless we tackle the main cause of the problem, mandatory spending," he writes.
Cole notes that recent historic revenue receipts have not reduced national debt levels and dismisses suggestions such as raising taxes or cutting defense budgets as insufficient solutions. He stresses that these actions would not address underlying fiscal issues and warns against shutting down government operations due to associated costs.
He also highlights initiatives like DOGE (Department of Government Efficiency) that aim to improve government efficiency while maintaining accountability. These initiatives align with conservative principles and are part of efforts to put America on a fiscally responsible path.
Looking ahead, Cole suggests engaging with constituents to develop creative solutions that preserve essential programs while reducing expenditures. He expresses confidence in finding ways to reduce spending without eliminating entitlement programs vital to Americans' lives.
Cole concludes by urging his colleagues on authorizing committees to focus on addressing mandatory spending, which he identifies as "the greatest threat to the success of our nation."