Our rapidly increasing national debt continues to burden American families, businesses and our country’s future. This year, the federal government has spent almost $3.5 trillion – roughly $27 thousand per American household. And the national debt is quickly approaching its $17 trillion limit. While we don’t know exactly when the government will run out of money, we know it will happen sometime this fall. And once again, President Obama will ask for his credit limit to be extended.  

Washington is riddled with waste and excess that must be addressed, but entitlement programs are the primary drivers of our debt. And while they provide an important safety net for American families, they must be reformed so they are viable for future generations. Any debt ceiling increase must be tied to the restructuring of entitlements – including significant spending cuts, responsible reforms and putting an end to widespread fraud and abuse.

The government doesn’t have a revenue problem, it has a spending problem. And each time we borrow more money, it goes on the backs of our children and grandchildren who will be responsible for paying off the mountainous debt we are accruing. This is not just an economic problem, it’s a moral problem. We can’t keep spending money we don’t have. The time has come to cut up the credit cards, stop borrowing from China and live within our means. It’s our obligation to put America on a path towards fiscal sanity.