US Spending and our National Debt are undoubtedly linked. In this episode of McCuistion TV we will discuss current standings and what Congress needs to do. Our guest for this episode is Russ Vought. Russ Vought is the Political Director of Heritage Action for America.
Formed by the Heritage Foundation, its purpose is to get word out to its members and Congress about the economy and state of the Union. Presently it has over 750,000 members, 1600 in every congressional district in the country. This makes them essentially an “employer” to be reckoned with in each region, and a large one at that. When they walk into a Capital Hill office, they are going to be listened to and command respect.
One of their major concerns is the national debt- now 1.6 trillion dollars in size and growing. It takes 40 cents of every dollar to fund government with Social Security, Medicare and Medicaid, three of the top budget areas of spending. According to Russ Vought, this will consume all spending in the next 30 years. There could be no other funds for anything else unless we double taxes.
He doesn’t advocate doing so, but if we are presently borrowing 40 cents out of every dollar from someone. We need to take Draconian measures to correct this situation. US spending is definitely a problem. If we could get 5 of GDP down to 20%, we could in fact balance the budget.
He addressed the job situation and said people who give jobs are the entrepreneurs who put it back into the economy. Taxing small business is the last thing to do in time of needed economic growth. Heritage does not feel raising taxes is the solution.
Join us as we discuss US spending, the national debt, and what congress needs to do.
As always, we’re talking about things that matter… with people who care.