Budget & Spending
The independent Congressional Budget Office has produced numerous reports in recent years showing that our federal spending is unsustainable. Although Social Security, Medicare, and Medicaid alone did not create this debt problem because they are two-thirds of the budget they are the lead drivers of the ever-growing federal deficit.
I cannot emphasize enough how vitally important entitlement reform is to the continued fiscal soundness of our country. As we move forward with the annual budget process, I will continue to support bold efforts to tackle our massive national debt with meaningful reforms, while preserving Social Security, Medicare, and Medicaid for our children and grandchildren.
I voted in favor of the FY 2012 Republican Budget resolution put forward by Congressman Paul Ryan of Wisconsin in 2011. This budget reduces spending by returning government agency budgets to 2008 levels, reforming agricultural subsidies, shrinking the federal workforce through a sensible attrition policy, and accepting Defense Secretary Robert Gates’ plan to target inefficiencies at the Pentagon. Further, this budget returns the outdated tax code to help better promote economic growth and create jobs.
In this budget, Medicaid, Medicare, and Social Security, which consume around 40% of the total federal budget, are rescued from bankruptcy to preserve their benefits for future generations. Federal funding for Medicaid is converted into block grants for the states, which will have the flexibility and incentive to help people out of welfare and into a job. Although Social Security is not changed in the FY 2012 budget, we need to enact common-sense reforms.
Further, I was an original co-sponsor of the Republican Study Committee Budget which builds upon this groundbreaking FY 2012 Budget, and puts us back on the path to fiscal responsibility. The solutions set forth by the RSC Budget proposal would aggressively address our nation’s fiscal crisis, and lay the groundwork for dynamic innovation, job creation, and economic growth.
Budget Before Borrowing Act (H.R. 3778)
H.R. 3778 would prevent Congress from raising the debt ceiling limit unless the House and the Senate have agreed to a budget resolution. This can only be waived with a vote of two-thirds of the Members in both Houses.
Some may be shocked to learn that the Senate has not passed a budget in three years. Despite that, or perhaps because of that, Washington’s borrowing and spending continues out of control.
Senator Mike Lee (UT) introduced companion legislation in the Senate.
HR 1167 Welfare Reform of 2011
HR 4060 Freeze Government Spending
HR 4160 Medicaid Block grant
HR 5652 Budget reconciliation package
Balanced Budget Amendments
Outside Groups Score Cards on Lamborn’s Spending Record: