Political campaigns often drown out important proposals in favor of flashy headlines and horse-race polling. That’s nothing new. But amid the noise, there is one truly transformative idea that has the potential to reshape the fiscal future of our nation — and it can’t come soon enough.
As Washington barrels toward $36 trillion in debt— equivalent to $271,000 per household and twenty percent larger than our entire economy— our fiscal crisis is no longer looming; it’s here. Our interest payments alone, approaching $1 trillion annually, now surpass what we spend on national defense. And with annual deficits almost $2 trillion, the alarm bells couldn’t be louder.
Since 2019, government spending has increased 52%, 40% of which was during the two years of COVID. Yet, instead of resetting our spending and right-sizing our budget, we’ve carried over hundreds of billions of dollars in COVID-era bloat.
America’s trajectory is unsustainable. But, it’s not unfixable.
President Trump’s Government Efficiency Commission, proposed in September, is exactly the type of disruptive reform Washington needs to reverse the damage and chart a course for restoring our nation’s financial health.
Solving our nation’s fiscal challenges demands a budgetary trifecta – public support, a plan of attack and political courage. Past panels and commissions have brought one or two of these elements to the table. President Trump’s commission addresses all three.
The key is leadership. Recruiting Elon Musk to lead this effort, a brilliant entrepreneur and skilled communicator — who also shares Trump’s business acumen as well as relentless drive for disruptive change — is key to building public support. Musk understands the challenges of communicating complex subjects and the power of social media. This is essential because once Americans grasp the risks associated with unbridled spending and debt, public opinion for bold and lasting solutions will grow.
Trump and Musk can use the Commission to spotlight the potential irreparable fallout from a debt-induced crisis and the urgent need to get ahead of it. Without these changes, America’s standing in the world declines, our competitiveness with China weakens, interest rates could spike, economic growth stalls and the dollar’s status as the world’s reserve currency is jeopardized.
The reality is, far too many Americans don’t have a grip on the magnitude of the debt-induced perils we face.
The Commission could serve as a much-needed voice to amplify these mounting dangers. In terms of developing an action plan, the Commission would also swiftly expose billions in waste buried in bloated, misdirected and unnecessary Washington spending.
The House Budget Committee has identified a series of common-sense reforms the Commission should immediately consider that would bring serious savings over the next decade. Reducing food stamp fraud could save taxpayers $25 billion. Requiring a Social Security number to receive the child tax credit would save another $25 billion. Scrutinizing the $800 billion in Biden-Harris green energy giveaways is long overdue.
We can also save $100 billion over the next ten years by expecting able-bodied Medicaid recipients to engage in some type of work effort. Repealing the expanded IRS budget for smarter and more targeted efforts to eliminate tax avoidance and evasion, rather than an army of Washington bureaucrats shaking down middle-class American families, would free up $60 billion. Ending Biden’s unfair and unconstitutional student loan bailout would reduce budgetary red ink by another $400 billion. According to the nonpartisan Government Accountability Office (GAO), at least $236 billion – half of what we spend on defense annually – is spirited away each year on waste, fraud and abuse. Border Czar Kamala Harris’s self-inflicted immigration crisis alone will cost $300 billion over the next decade.
These are big numbers, but only half the battle. With public backing and a practical plan, Congress must summon the political courage to act.
If we are going to bring down inflation, boost our economy, and repair our nation’s balance sheet, we must start by reducing spending.
The Trump Government Efficiency Commission offers a vital remedy to address the paralysis plaguing Washington’s financial woes. Beyond educating the public and building needed political support, it can help Congress break free from its pattern of inaction and start making the tough choices.
Americans are facing escalating fiscal dangers due to Washington’s reckless spending. Yet too many – including their own representatives in Congress – fail to grasp that an unthinkable fiscal crisis may be inevitable without a major course correction.
If we don’t restore fiscal sanity in Washington, we will not only jeopardize America as the land of opportunity, but we will surrender our nation’s leadership and influence around the world.
The time is right for a bold idea like the Efficiency Commission to gain the attention it deserves.
Rep. Jodey Arrington is the Chairman of the House Budget Committee and a Republican representing Texas’ 19th District.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller.
This article was originally published at dailycaller.com
