CHART: How is Washington Tackling Our Long-Term Debt Crisis?
On ABC This Week, Speaker John Boehner explained that we have to act now to solve our looming debt crisis and protect important priorities like Medicare “so that they're there for the long term.” Our entitlement programs “are not sustainable in their current form,” said Boehner, and unless we take action, we’ll be saddling our children and grandchildren with a weaker economy and a mountain of debt.
To get things moving, the House of Representatives will vote this week on a responsible, balanced budget. The chart above compares the Republican Path to Prosperity with the plan we expect to see from President Obama eventually (it was due in February but is still delayed). For example:
- The Republican plan balances the budget in 10 years to help our economy grow; President Obama says he has no plan to balance the budget at all, meaning our debt will keep on rising.
- Republicans want to cut wasteful spending; the president wants more spending.
- Republicans want to fix our broken tax code to help create jobs and increase wages; the president wants to raise taxes. Again.
- To combat rising health care prices, the Republican plan repeals and defunds ObamaCare and makes way for patient-centered reforms; the president … well, you get the picture.
As Chairman Paul Ryan (R-WI) said in the Weekly Republican Address, if we take the steps outlined in the Republican budget, “our economy will grow. Our country will regain confidence. And we will reignite the American Dream.”
Click here to learn more about your share of the national debt, and click here to learn more about the Republican plan to address our long-term debt crisis, balance the budget, and expand opportunity for all Americans.