A culture of debt.
- Financial literacy is a skill that Congress should be fluent in. Their irresponsible money management is something that affects not only our national security but also the ins and outs of our daily lives. Congress allows for about $4 trillion a year in spending although they bring in almost half a trillion less than that in revenue.
- Our national debt clock has recently exceeded $20 trillion putting Americans at an all time high disadvantage.
- The debt is so excessive that according to The Hill, “Each American’s share of our $20 trillion dollar debt totals $166,000, also including Social Security and Medicare, total another $875,000 per taxpayer.” Every one of us is on the hook for $1 million dollars.
- The Hill goes on to reference the independent Congressional Research Service: “Debt eventually must be repaid, either through spending reductions, tax increases or combination of the two and may also generate crowding out that could reduce future economic productivity…massive accumulating debt provides more money for Congress to spend now, at the cost of economic growth and opportunity of future generations.”
America must tackle waste, fraud and duplication
- Christina has a record of working hard to defeat debt.
- Christina proudly cut government excess to achieve a balanced state budget in the midst of a historic 17% budget deficit.
- Christina voted against new increased spending and the creating of new budget deficits just this year.
- We need to swiftly cut federal discretionary spending, reverse federal overreach, return power to the states, reform entitlement spending to make it sustainable and pass a balanced budget amendment.
- Just by starting to cut the programs identified by CBO and OBM as duplicative/ineffective we can begin to save hundreds of billions of dollars over the 10-year budget window.
- In addition to our excessive national debt, our higher education system has inflated its costs of services at an unparalleled rate due to federal and state subsides giving them permission to financially rob a generation of people of their financial freedom. Free market principles must be applied to all areas weighing down the future of America.
- Transparency and financial experts will be needed to solve our nation’s financial brokenness. Christina has asked for a long range financial outlook for the state and would do the same of our nation’s financial future. The long-range financial outlook will be based on current law, demographics, debt load, expected trends, and other factors, which will include: budgetary, economic, socio-economic and debt analysis. The long-range financial outlook will take into consideration both internal and external environmental demands and contingencies that could hinder or accelerate Ohio and the nation’s course to success.
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