Reducing the Deficit
Five years ago, our country faced a financial crisis. It flared up suddenly, even though the crisis had been building up over time. And the damage was severe, especially here in Michigan. Over 300,000 Michigan homeowners lost their homes. By January of 2009 over 550,000 Michiganders had lost their jobs. That number rose to a high of 686,199 (14.2%) before finally reaching its present day figure of over 355,000 people without jobs in Michigan.
It seems like we are making progress, but if you are one of those people still struggling to find a job five years after the financial crisis began, you surely don't think the problem has been solved.
In fact, we can do much better! Much of what the Obama Administration tried -- more spending, more regulations -- didn't work. In fact, they have delayed the recovery.
And just as importantly, we still face the threat of a debt crisis. Our national debt is growing faster than our economy. Plain and simple, our obligations are growing faster than our ability to pay them. Our national debt burden remains unsustainable over the long term.
The Obama Administration's spending binge has put our nation deeply in debt, eroded economic confidence, and caused massive uncertainty for private sector job creators.
We must find a way to get our spending under control. I believe that at a time when American families continue to tighten their belts financially, Congress must do the same and lead by example.
I know that many people feel like just throwing their hands up in the air and saying there is no way to stop runaway government spending especially now that our deficit is almost $17-1/2 trillion. It seems like no one in Washington understands the danger we are facing because of the reckless spending of the Obama Administration. Even foreign countries, such as China and Japan, continue to warn the United States about the danger of continued deficit spending.
In Michigan, I have been part of the team to pay down our debt, put money in the rainy day fund and balance our budget.
I understand the danger of continued runaway government spending. I will fight to control the federal deficit and work to restore confidence in our economy.