Congress Should Pursue a 2019 Budget for Reconciliation
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- Description
America's current debt problem is the result of too much spending, not too little taxation. Mandatory or "auto-pilot" spending accounts for two-thirds of the federal budget. The Congressional Budget Office projects that by 2039 federal spending on Medicaid, Medicare, Social Security, and interest on the debt will outpace all revenues. The longer Congress waits to address reforms to these programs, the worse the fiscal situation will become. Social Security cannot be reformed through reconciliation, but all other mandatory programs can be. Congress should use reconciliation to begin reforming these programs now.
