The GOP are now in the driver’s seat and must reform the budget to ward off a fiscal crisis.

Next year, the new president will face budget deficits and interest costs spiraling upwards. He or she will need to find spending to cut. How about all the waste and overcharging in federal contracting?

Kamala Harris selected Tim Walz as her presidential running mate. Let’s look at his record on spending and taxes as Minnesota governor since 2019.

The US government has grown into an ever-swelling leviathan that’s increasingly oriented towards doling out cash and health benefits to America’s electorally potent seniors—without consideration of the burden this imposes on younger working Americans.

Does Social Security spending add to the national debt? The answer is yes because the US government did not save any of the excess payroll taxes the Treasury Department collected when Social Security was running a surplus.

President Biden has released his proposed federal budget for fiscal year 2025 and beyond. The proposal includes a raft of spending increases, including new subsidies for childcare, housing, college, health care, paid leave, refundable tax credits, home care, and many other things. It also includes a bevy of large tax increases, including higher rates on individual income, corporate income, and capital gains.

Legislators and the public tend to underestimate the fiscal costs of emergency spending. Emergency supplemental bills, such as the Ukraine‐Israel foreign aid package, are often billed as one‐time, temporary costs. This framing obscures the tens of billions of dollars in interest costs generated by new deficit spending.

The Biden administration is requesting another federal agency‐​sized supplemental. This time, it’s $56 billion in new emergency spending for natural disasters, childcare, and high‐​speed internet. With deficits in the trillions and interest rates at historic highs, Congress should stop adding fuel to the deficit fire.

A fiscal commission can resolve America’s predictable fiscal decline, but only if it has the power to act. The CRFB explains that “[h]istorically, commissions have helped policymakers to extend the life of Social Security, consolidate military bases, identify government waste, develop frameworks for tax reform, improve homeland security after 9/11, and draw attention to our unsustainable fiscal outlook.” Time is running out for Congress to merely draw attention to America’s rapidly deteriorating fiscal state. We need action and soon.