After releasing ideas on job growth; education, Jacobs now gives specific ideas for tackling Washington's spending problem
West Des Moines, Iowa - As a part of his nine day, 40-city "Real Solutions" Tour, U.S. Senate candidate Mark Jacobs today released "Private Sector Principles for Achieving a Balanced Budget," a set of specific principles for tackling both the nation's debt and deficits.
The United States is facing $17 trillion in debt and continued annual deficits projected to be in the hundreds of billions each year. The debate rages on in Washington about how to solve this issue.
"I've always said this was going to be a campaign about ideas and solutions. I want Iowans to know that I will focus on not only the intrinsically-linked issues of creating jobs and opportunity and tackling Washington's spending problem, but also how we can achieve these objectives. Iowa deserves better than talking points from career politicians. Iowans deserve results," said Mark Jacobs.
He added, "I am running for U.S. Senate to create an environment that will encourage and allow the private sector to grow more quickly. If we were able to grow our economy just one percent faster per year over the next decade, it would wipe out more than half of our annual budget deficits. More jobs, more opportunity and certainly more fiscal discipline will help Iowa families and businesses."
Jacobs detailed how he would begin reaching and maintaining fiscal sanity by offering four specific ideas:
- Passing a Balanced Budget Amendment. Congress has not demonstrated the ability to live within its means. Therefore, we need to provide a structural framework that requires them to do so. A balanced budget amendment creates a mechanism for ensuring that Congress meets and reaches this goal in a specific period of time. After ten years, the amendment would require Congress to set the budget at 99 percent of forecasted revenues, just as we do in Iowa.
- Reining In the Deficit through Meaningful Spending Reductions. Thoughtful ways to achieve meaningful spending reductions include reductions in discretionary spending; rooting out fraud in government programs; and building bipartisan consensus on entitlement reform.
- Increasing the Rate of Economic Growth. Spending cuts alone will not solve our financial challenges. Growing the economy at a faster rate must be a component of the plan. The federal government does not create jobs - but it does create the environment in which it is either easier or harder for the private sector to grow. Currently, the Administration is making job growth in the private sector harder. We need to pursue the five priorities I have previously put forth for creating an environment that will foster higher economic growth.
- Reducing the Debt. The first three ideas relate to achieving a balanced budget. However, we must also begin reducing our country's $17 trillion debt. Selling unused public assets will enable the country to make a near-term down payment on the debt. This, in turn, will reduce the amount of interest we pay on the debt in the long-term. Ideas include : selling mineral rights on federal lands, selling surplus federal land, and disposing of unused and under-utilized buildings.
Jacobs said, "The bottom line is Washington needs more leaders with real world common sense, whose focus is making headway - instead of headlines. I will continue to offer specifics, push for concrete results, and most importantly, I will show up to work every single day to work on behalf of Iowa's families and businesses."
To view or download "Private Sector Principles for Achieving a Balanced Budget," please click here.
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