AKIN ALERT: Fiscal Pulse Update PLUS F-18 breaking news
Just Breaking – the Department of Defense has decided to pursue a multi-year agreement with suppliers to purchase more F-18 planes. This is good news for our troops and good news for the St. Louis area.
Fiscal Health Update
In the last week, three big pieces of national fiscal health news came out.
The Treasury Department announced that the United States posted the 19th straight month of budget deficits. April’s deficit was $82.69 billion – almost four times the shortfall this time last year. And that figure comes as the national debt approaches $13 trillion.
The non-partisan Congressional Budget Office (CBO) announced that they had under-estimated the cost of the recently passed health care bill by $115 billion dollars. Revised figures bring the cost of the bill to about $1 trillion. That ‘s enough money to fund Missouri’s $25 billion budget for 40 years.
Finally, the unemployment rate jumped to 9.9%, as millions of Americans continue to struggle to find work, in spite of other encouraging economic indicators.
Taken together, these indicators show that Congressional leaders need to get serious about conquering our budget deficit. This means:
- Getting spending under control.
- Growing the economy through private sector job creation, expanding the tax base.
I believe we need to do both. that’s why I am one of only 18 Members of Congress who voted against every bailout under the Bush and Obama Administrations.
Yet, even now, it appears that the majority in Congress has no plans of doing the hard work necessary to set spending priorities and pass a budget. Instead they are proposing new spending without a way to pay for it. And, even while they have spent trillions to grow government domestically, they are refusing to give our armed forces the funding they need to keep our nation safe – which is the first duty of good government.
We need a new direction to restore our fiscal integrity and protect our way of life.
I welcome your thoughts on these important issues.
W. Todd Akin
How would you bring sanity to Congressional spending?