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Out-of-control government spending is the most pressing issue of our day. The Coalition to Reduce Spending is dedicated to advocating for reducing federal spending and balancing the budget. Continuing to live beyond our means will only jeopardize our country's future prosperity and security.
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Where does your tax money go?

As we approach this year’s Tax Day, we know that Americans have wildly different national priorities that they would like to see become reality — or perhaps, things they would prefer the government to step away from entirely. Thanks to a new report from the Committee for a Responsible Federal Budget, taxpayers can see our own “receipt” showing where our dollars went and how those priorities match our own.

As you can see, the majority of tax dollars go into a very small collection of budget items — items which are generally kept off the table for any sort of reform or cuts.

We know that the United States’ fiscal situation is far from healthy and could become downright dire in a very short amount of time if major changes do not happen.

This year on Tax Day, remember the timeless words of Milton Friedman: “Keep your eye on one thing and one thing only: how much government is spending, because that’s the true tax.” Let’s rededicate ourselves to taking on the true tax once and for all.

 

ICYMI: Jonathan Bydlak in Medium – New Media as a Change Agent

Most Americans want Congress to spend less, but politicians always seem to do the opposite. What’s the cause of this discrepancy?

One key reason is the gap between what Washington is doing and how most Americans live our daily lives. Most of us are focused on jobs and responsibilities in the real world and don’t have time to track what Congress is doing all the time.

Connecting people with their government is a crucial task that new technology has begun to solve.

Can new media be a change agent?

Read the full piece here.

Tax day costs burden consumers

A report from our friends at the National Taxpayers Union sheds light on the real costs involved with big government, as taxpayers face not only what they owe the federal government but all of the costs involved with paying this money.

According to the most recent annual PRA report (drafted by the Office of Information and Regulatory Affairs (OIRA) within the OMB), Americans spent over 9.78 billion hours complying with the government-imposed paperwork burden during FY 2015. Looking to future years, according to OIRA’s live-tracker of “Government-Wide Totals for Active Information Collections,” Americans are projected to spend over 11.6 billion hours complying with paperwork regulations that have been approved, and are being implemented, which would cost $128 billion annually.

Read the full report here, and this Tax Day, remember that the true cause of high taxes is high spending — and work even harder to rein it in.

New year, same fiscal warnings

New year, same fiscal warnings. The Congressional Budget Office has released their annual long-term budget outlook for 2017 and, likely to nobody’s surprise, the results are eerily similar to their previous predictions.

In the new report, CBO estimates that the federal debt will reach 150% of GDP by 2047, nearly doubling the 77% of GDP that it is at currently. The main driver behind this massive increase is the growth of the deficit. With the growth of retirees trending upward, the outlays for Social Security and Medicare are projected to vastly outpace the government’s revenues. This—in combination with the growing costs of healthcare—will only make the problem worse for the U.S economy.

Though these projections are similar to the numbers from the July 2016 report, their estimates this year have a slightly more dismal outlook. They now project debt in 2046, measured as a share of GDP, to be 5 percentage points higher than they did in last year’s estimate.

In addition, CBO predicts that the growth of federal debt will reduce federal savings and increase the cost of interest on the debt—forcing more pressure on other parts of the budget. CBO points to two potential problems with accumulating high debt. First, they predict it will lead to a decreased ability to respond to problems both domestically and internationally. Additionally, it may lead to a greater chance of a fiscal crisis because investors will be unwilling to finance federal borrowing.

There is uncertainty with these projections, of course. They are directly related to the labor force participation rate, growth of productivity, interest rates on the debt, and costs of mandatory spending. Any large changes to these parts of the economy will result in different outlooks—which, depending on the circumstances, could be a good or bad thing.

In order for the government to get spending under control, there will have to be massive changes to political habits. If lawmakers aimed to decrease the debt to equal 40% of GDP by 2047—which is the 50-year average—they would have to cut non-interest spending by 15%. Even more frightening, if politicians want to keep debt at the current levels of 77% of GDP, they would still have to cut by 9%, or $1,100 per person. For a federal government that continues to grow year after year, this is a tall order.

Currently, the United States is headed down a road of fiscal insolvency. If changes aren’t made, the likelihood of an economic crisis grows exponentially. CBO has been warning Congress for years to take spending cuts seriously and only a few Members have taken action toward change. It is going to take some serious leadership to attempt to shrink the budget, but as CBO warns again, it must be done before we face severe problems not too far down the road.

This post originally appeared at the Institute to Reduce Spending.

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ICYMI: Jonathan Bydlak on the Bob Zadek Show

There’s a lot going on in Washington these days, but we’re hard at work making sure no vote goes unnoticed.

In case you missed it, Jonathan Bydlak recently sat down with Bob Zadek to discuss our work to track spending and why doing so is the cause of our generation.

Take a listen here!

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