Responsible stewardship of the taxpayer’s money should be the primary responsibility of every elected official. From city halls to county courthouses to our state Capitol in Jefferson City, we are seeing increased accountability and many difficult decisions being made as every level of government deals with the current economic realities. Unfortunately, this message has not been fully received in our nation’s capitol.
In 1917, the United States Congress first established a debt limit. However, they allowed for an increase in this limit by a vote of Congress. Over the last decade, this limit has been increased on a seemingly annual basis. As a result, earlier this month, our national debt surpassed $15 trillion amounting to more than $48,000 for every American citizen. The interest payments on this level of debt now exceed what the federal government contributes to education funding and many other essential programs. If left unchecked, by 2020, the amount spent to simply pay interest could exceed funding for our armed services. To make it worse, the same week that our debt level eclipsed the $15 trillion mark, Congress voted to defeat a proposed balanced budget amendment that would prohibit the federal government from spending more money than it collects.
A mandated balanced budget is common in state constitutions and has been instrumental in helping keep Missouri’s fiscal health from falling to the depths of states with fewer spending restrictions. While our budget process has been difficult in recent years, it has forced the Legislature to maintain a real world approach in our appropriations process.
Both in public and private settings, we have seen how excessive debt can limit an organizations ability to carry out even its most fundamental responsibilities. Vigilant stewardship of our fiscal matters is fundamental to our duties in public office, so I am disappointed that the so-called debt reduction “super committee” failed to produce any results for American taxpayers. Regardless, I remain hopeful that they will end the partisan bickering and do what is right for our nation. By adhering to simple, common sense principles that have been proven to work in kitchen table budget negotiations of everyday households, I believe they can overcome their differences and move forward in a direction consistent with Missouri’s hard working families.
As always, please feel free to call, email, or write with your ideas or concerns. The Capitol number is (573) 751-1415, my email is brad.lager@senate.mo.gov and my mailing address is Room 422, State Capitol Building, Jefferson City, MO 65101.
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