Hello and welcome to a special State of the Union edition of Fiscal Friday. This is Bess Byers with A Generation Empowered. Today we look at the most pressing issue Millennials will face, the state of our debt.
The national debt is $18 trillion. It is morally reprehensible to spend money we do not have, and expect a younger generation to pick up the tab. High debt will lead to higher taxes and higher interest rates, both which hurt the economy and job growth.
With record tax revenues, it’s apparent the government has a spending problem. The IRS does not need a $10 billion dollar budget. Another $10 billion for NSA is abhorrent and unconstitutional. TSA, FDA, EPA, DHS, BLM, DOE… It is time we eliminate billions in waste at the government alphabet agencies.
2015 is the time for tax reform. We need to look at a flat tax, and eliminate corporate tax loopholes given to campaign contributors.
Why does the government profit off death? It’s time to eliminate the Death Tax. The last thing a grieving family needs is more taxes.
Let’s talk unfunded liabilities. Social Security has become Social Insecurity. This has to change. We must transition to privatized Social Security.
Additionally, we must pass laws to prevent politicians from raiding government trust funds. Politicians do not have the right to steal trillions from the American taxpayer.
Lastly, Congressional approval is at an all-time low, so pay will reflect that. If you can’t produce a balanced budget, you don’t deserve a six figure salary. I propose slashing politicians salaries to the Median household income of $53,000.
It’s time to unite. Trillions in debt hurts everyone. This issue must be addressed, if not for our generation, but for future generations. It’s not a right or left issue, it’s an American issue. We are all Americans.
This is Bess Byers, with the State of Our Debt. God bless America, and remember, it’s your generation, and you’re empowered.