Capitol News from Senator Richard Burr
Message From Senator Burr
Greetings from Washington!
The past few weeks in Washington have proven to be very monumental. From the controversial economic “stimulus” bill, to the president’s $410 billion omnibus spending bill, the 111th Congress has started off with a spending spree unrivaled in our history.
Fiscal Responsibility in Washington
Over the weekend, I delivered the Republican response to President Obama’s weekly address to the nation. I addressed the lack of fiscal restraint in Washington and the impact this excessive spending has on our families, our way of life, and our economic recovery. The strongest tool we as Americans have is our ability to rally together and find solutions with unity of purpose, and I know we have the ability to overcome this significant economic challenge. There is no limit to our ability and potential when we as a nation work together. Republicans and Democrats agree that we have to get our economy back on track. However, we disagree on how we’re going to get there. I believe we can overcome this economic challenge if we make the right choices today and not burden future generations with crushing debt.
Our decisions will have a profound impact on our way of life for years to come. North Carolina families facing tough decisions realize this, and Washington needs to understand this as well. It seems like common sense, but every time a dollar is spent on a federal program, it actually costs a dollar plus interest because we are borrowing so much money. Unfortunately, Washington is in a state of denial and our spending habits haven’t gotten better, they’ve only gotten worse. We’re spending money that our children and grandchildren are counting on, and we are putting them in the unenviable positions of having to pay it back.
Last week, the president presented to Congress a budget that will expand our deficit to historic levels. If we look at what our debt spending will cost us in interest payments alone, we are talking about $4 trillion over the next 10 years, which amounts to more than a billion dollars of interest payments every day. The share of this finance charge for every family of four over those ten years? $52,000.
This is simply irresponsible. It is time for us to stop saddling the next generation with a debt they cannot afford.
For two centuries, the American Dream has depended on the simple belief that men and women work hard so their children would have a better future. Looking at the spending priorities of elected leaders in Washington these days, it’s hard to escape the reality that for the first time the possibility of achieving the American Dream may vanish. Now, instead of working hard so our children can have a better life tomorrow, we are leaving them with a crushing debt and wishing them luck in dealing with it.
For more information, I encourage you to visit my website, http://burr.senate.gov, where you can find the latest video, audio and news from Washington. You can also always see the most up to date information on my blog at http://burr.senate.gov/blog. As always, I encourage you to contact my office if you are having problems with the federal government or if you are visiting Washington and want to tour the sites, including the U.S. Capitol.
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