Tom Leppert

Proud to Support Rep. Paul Ryan and Sen. Pat Toomey's Budget Proposals

America is facing a dire fiscal situation we can only escape by electing leaders with experience making the tough calls. I'm proud to be the candidate in this race who has spoken out fully in support of House Budget Committee Chairman Paul Ryan's 'Path to Prosperity,' which takes on issues others deem too heated to discuss in Washington or confront on the campaign trail. We will not achieve solvency for entitlements, let alone our country, until elected officials show the courage to put their political careers on the line to reach a balanced budget and preserve entitlements. Paul Ryan's plan looks toward the future and is the answer for our country's long-term fiscal health. I would vote for it.

In the short-term, however, I believe we must confront realities that will require us to tighten our belts faster. The fate of American prosperity will be determined over the course of the next ten years. Either we continue on our current path and doom future generations to foot a bill that will leave them with a debt too high to surmount and resources too few to prosper, or we say enough is enough, get America back on track, and continue on as not only the greatest nation the world has ever known but also a beacon to the rest of the world. Conservatives will ultimately pass a Balanced Budget Amendment and Paul Ryan's budget, and right now, I believe we also must pass Senator Pat Toomey's plan to balance the budget within ten years without raising taxes.

Senator Toomey returns non-defense discretionary spending to 2006 levels. His plan also promotes economic growth by lowering marginal tax rates and simplifying the tax code while eliminating special-interest tax loopholes. Obamacare's spending, taxes, and entitlements will be repealed by this budget, and it will implement a Medicaid block grant program to the states, reform medical malpractice, and permanantly reform the sustainable growth rate to Medicare, preventing devastating cuts to doctors.

While Senate Democrats refuse to propose any budget at all, Republicans have now offered two bold plans to move our country forward. I give my support to both. There is, of course, far more that must be done to turn our country around, and we must continue working for more reforms moving forward. But these plans are the cornerstones for saving the American Dream and returning our country to prosperity for generations to come.

Will you stand with me in supporting Congressman Ryan and Senator Toomey today?

Washington has created a quagmire. Politicians have buried us in debt that is reaching an insurmountable level. We need to act now to preserve the American Dream and get our country back on a path to fiscal reality.

William Beach and Dustin Siggins of the Heritage Foundation write today on the magnitude of fiscal adjustments we must make. While Democrats are outraged over even the paltry $61 billion that Congressional Republicans are trying to cut from this year's budget, Beach and Siggins say we need average cuts of $395.3 billion per year in order to achieve a 12 percent adjustment in structural deficits by 2015—the year our national debt is equal to our entire GDP.

Of the several studies released by the IMF, the most important was a May 15 report warning the United States that it would have a debt-to-GDP ratio of 100 percent by 2015. An April 30 report also found that of all the debt reductions industrialized nations need to make, the United States requires the second-largest adjustment. This adjustment amounts to full 12 percent of our structural deficits—not quite as bad as Japan at 13 percent, but considerably worse than woeful Greece at 9 percent. Yet Congress will probably not be able to enact these necessary changes.

In order to achieve that 12 percent reduction during the five fiscal years between now and 2015, the average budget cut would have to be equal to equal $395.3 billion per year. Given that the president's bipartisan debt commission's recommendations could not even get to Congress for a vote, and that the new budget from House Republicans cuts only $61 billion from 2010 spending levels, how can the American people expect real structural change in the federal budget? Members of the Debt Paying Generation certainly cannot, and rightfully should ask if they will be left holding the bag.

The only way we'll be able to get our finances in line will be to make some tough choices. A good first step is a Balanced Budget Amendment to the Constitution to stop Washington from spending more than it takes in. This would keep President Obama in check as he continues to push for more spending. CLICK HERE to sign my petition urging Congress to pass a Balanced Budget Amendment.

But a Balanced Budget Amendment is only the beginning if we're going to dig this country out of debt. It's essential that we reform our entitlement programs, which account for 41 percent of the President's budget this year. We cannot consider tax increases, which would only lead to higher debt by slowing economic growth, but everything else needs to be on the table.

Voters understand the time to act is now. A new poll out this morning from The Hill finds 95 percent of likely voters believe lowering our debt is crucial for our future.

Likely voters overwhelmingly believe deficit reduction is crucial to America's future, but generally oppose raising revenue through tax reform to cut those deficits, a new poll conducted for The Hill found.

A full 95 percent of likely voters believe that lowering the debt is either very or somewhat important, the poll found, with only 2 percent finding the issue not at all or not very important.

Texans need to speak out and let Washington know we're tired of politicians who put off the tough decisions. We want action. Be sure to sign my petition for a Balanced Budget Amendment today, and throughout this campaign, I will continue calling on Washington to start making the tough choices now.