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Fiscal Discipline
It is the primary responsibility of elected officials at all levels of government to ensure that every tax dollar, that every dime entrusted to their care by hardworking citizens, is spent wisely. Budgets must remain balanced and any tax cuts should be targeted to those who need them most - Pennsylvania's middle-class and working poor.
The Budget Surplus
I believe that the best use of the non-Social Security surplus is to reduce the national debt. Publicly-held debt is at its highest level ever - $3.7 trillion. In 1999, the interest paid on our public debt was $230 billion - 13 percent of our total spending. That means that last year, 13 cents of every dollar paid in taxes went towards America's debt payments. This is money that could be instead used to invest in our common priorities like education and health care. Additionally, economists believe that a reduction in the debt would result in a further decline in interest rates, which spurs entrepreneurship and gives individuals and families the resources to invest in their future by buying a home, paying for college, or planning for retirement.
Responsible Spending
The government should work harder to balance the budget through responsible spending - investing in our future by improving education, health care, and strengthening our infrastructure. The government should stop wasting money on unnecessary and unproductive programs. For example, spending on corporate welfare and tax loopholes for big business are at an all-time high. The savings realized by eliminating the subsidization of billion-dollar multinational corporations will allow us to invest in small businesses and families here at home.
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