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Deficit cuts need to be bigger steps

The Biden administration’s proposed budget and plan to reduce the federal deficit by $3 trillion over 10 years is a step in the right direction.

But only the tiniest step.

As the U.S. House notes on its website, the plan still will add $14.4 trillion to the national debt while spending $73 trillion — the “highest sustained level in American history.”

The reality is, in the climate of a pandemic and our federal government’s efforts to mitigate its impact, our federal deficit climbed by unprecedented numbers.

In 2015, the federal deficit was $442 billion. In 2020 it was $3,132 billion, or $3.13 trillion.

Our nation’s irresponsible spending policies are a bipartisan problem — both parties share responsibility for the threat it poses to future generations.

Under the Trump administration, in fact, our deficit rose from $779 billion in 2018 to $984 billion — spending decided upon well before the impact of COVID-19 could be anticipated.

And just as the problem has a bipartisan past, the solution must have a bipartisan future.

Both parties will almost certainly have to make concessions. Some historically low tax rates will likely have to increase. Loopholes in our tax code that further reduce bills will likely need to be closed. The U.S. Department of Defense will likely have to find more efficient, budget-conscious ways of keeping America safe.

But first, spending on domestic programs and initiatives have to be scaled back. American taxpayers cannot afford $73 trillion in federal spending. We cannot imagine justifying any increase in any tax rate when federal spending is that high. We cannot imagine justifying any increase in any tax rate when President Joe Biden’s executive actions have racked up $1 trillion in increased spending just by themselves, as the House website notes.

As our national debt passes $30 trillion, we need to cut spending. We need to dedicate ourselves to moving in the right direction. Not with tiny cuts and tiny steps — serious movement in the right direction.

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