Oct 28, 2015

Keep Your Promise, Keep the Spending Caps

Post by Derek Yale

With the national debt higher than ever, Congress faces the decision of whether or not to keep the current spending caps put in place in 2011.

Since 2009, the government has spent $6.7 trillion of taxpayer dollars in unsuccessful attempts to improve the economy. The result has been continued economic decline.

Spending Caps infographic

In his State of the Union address this year, President Obama said: “Most Americans, Democrats, Republicans and Independents, understand that we can’t just cut our way to prosperity.” He has taken quite the opposite approach, spending more than any other president in history. But has this approach been effective?

Despite the high amount of spending that has occurred during Obama’s presidency, the American people have not been experiencing prosperity. Some Americans have stopped looking for work altogether. Over 13 million more Americans have begun receiving food stamps since 2009. The housing market has not improved and household incomes have stagnated.

These are just some of the examples of how Americans’ lives have not improved with more spending and how, in some cases, are getting worse.

Congress made a promise to American taxpayers back in 2011 when it established modest spending caps that limit the annual growth of discretionary spending. The hardworking taxpayers that fund this spending deserve to see real economic improvements and responsible spending with their money.

The caps are one of the few fiscal restraints enacted during President Obama’s tenure, and have been important to curbing wasteful spending in Washington. Congress shouldn’t go back on its promise. Keeping the spending caps is necessary in order to regain a healthy economy and prosperous life for all Americans.