WASHINGTON—Congressman Jeb Hensarling (TX-05), Chairman of the House Financial Services Committee, released the following statement in response to President Trump’s 2018 Budget Blueprint:
“Left unchecked, our nation is driving at a breakneck speed toward a spending-driven fiscal cliff. If we go off this cliff and into a full-blown debt crisis, we will be a nation where downsized dreams and fewer opportunities become the new norm. Washington simply won’t have the ability to do all the things that Americans expect of the federal government either– whether that is making good on the health and retirement security promises made to current and future generations of American seniors or protecting our nation and ensuring that our men and women in the armed forces have all the tools needed to do their jobs.
“This future doesn’t have to be our destiny if we make the responsible fiscal decisions today. The President’s budget submission to Congress represents the beginning of the budget process. President Trump has put forward a budget proposal that shows how we can shrink Washington while still prioritizing taxpayer dollars on things like rebuilding our nation’s military and securing our borders. This budget illustrates the real choices that must be made, and it is a welcome relief from the past eight years where budgets were unrealistic, unsustainable, and seemingly indifferent to our nation’s mounting debt.
“And, while this budget blueprint takes us in the right direction, more work needs to be done if programs like Social Security and Medicare are going to be placed on a financially sustainable path. Certainly those with a vested interest in maintaining the status quo in Washington will protest any reduction in their particular funding stream with dire predictions. But, if we are going to truly have a healthy economy with greater growth, opportunity, and prosperity for all, we cannot continue to grow Washington’s economy at the expense of the Main Street economy. I look forward to the continued budget process and working with President Trump and Members of Congress to restore fiscal accountability in Washington.”