A bipartisan group of lawmakers are calling for two deficit reduction ideas to be included in this year’s federal budget bill.
by Eric Boehm
Reason.com
Ahead of the annual congressional scramble to piece together a federal budget—a process that will begin in earnest after President Joe Biden’s state of the union address next week—a bipartisan group of lawmakers are asking a question that’s rarely part of the proceedings these days.
How are we actually going to pay for all this?
In a letter sent on Tuesday, 24 members of the House of Representatives called on Speaker of the House Nancy Pelosi (D–Calif.) to take some small but important steps to rein in America’s out-of-control national debt. The letter highlights the fact that policies enacted during the past five years—including pandemic relief, but also “Congress’ perennially broken budget process and fiscal policies”—have added $13 trillion to the projected levels of debt in 2031, at the end of the 10-year window Congress uses for budgeting.