Todd Weiler: By doing nothing, Congress guarantees Americans won’t have needed resources in the near future.
Sen. Todd Weiler, R-Woods Cross, remarks about the nomination of Utah Court of Appeals Judge Diana Hagen to serve as a Utah Supreme Court Justice, March 29, 2022.Like many of you, I watched during the last several weeks as Congress tried to negotiate a bill to prevent the federal government from defaulting. While Congress has finally reached a compromise, the end product is insufficient to keep the country from accruing more debt that our children and grandchildren will eventually have to pay.
The recent debt debate we watched play out on the national stage was about only 30% of the entire federal budget, which goes toward discretionary spending. Even if Congress were to cut discretionary spending, which makes up approximately 70% of our budget, mandatory spending would remain the same. It’s imperative Congress address the main driver of our debt, mandatory spending, which goes toward entitlement programs like Medicare and Social Security.
The latest debate about the debt ceiling could have been avoided if Congress had passed the Time to Rescue United States’ Trusts Act in 2020, a bipartisanby Sen. Mitt Romney that creates a process for examining endangered federal trust funds. Federal programs like Medicare and Social Security are funded through a dedicated revenue source and managed by trust funds.
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