“The Budget Act of 1974 was never going to work, and it’s taken 45 years for Congress to try to fix it.”
U.S. Senator David Perdue (R-GA), a member of the Senate Budget Committee, called out the flaws in Congress’ broken funding process, which has only worked four times in 45 years since the Budget Act of 1974 was signed into law.
Senator Perdue has made it one of his top priorities to change Congress’ failed funding process. Over the past four years, he has met with policy experts, outside groups, retired Members of Congress, and his colleagues from both parties and chambers to study best practices and highlight the flaws of the current budget process. Last year, Senator Perdue wrote a column in The Hill calling on Congress to recognize that the current funding process will never work and must be changed.
$22 Trillion Debt Crisis: “The debt crisis is why I ran for the U.S. Senate. Americans always do well in a crisis. We’re also the slowest to recognize that we’re in one, but we have been in a crisis from the last 15 years.”
All The Above Approach: “In 2000, the United States had less than $6 trillion of debt. The ratio to our GDP was very workable, and in 2010, it was still somewhat workable. Now, the debt has topped $22 trillion. Here’s the real problem – we can’t cut our way out, tax our way out, or grow our way out of this debt. It’s got to be a combination of all of the above.”
Disastrous Budget Law: “The budget is not a law, therefore, it becomes a totally political thing and all Congress talks about – reconciliation, the Conrad Rule, the Byrd Rule – all of these are band-aids on a 1974 budget law that is the worst piece of writing I’ve ever seen in my life. The Budget Act of 1974 was never going to work. It is a disaster, and it’s taken 45 years for us to be here to try to get this fixed.”
Consequences Are Necessary: “Unfortunately, there are no consequences for not getting the job done. In 44 states, if the government doesn’t pass a budget, the legislators don’t go home. The United States Congress has a release valve called the continuing resolution which, as we’re learning now, is so devastating.”
Save Social Security and Medicare: “Since the Budget Control Act in 2011, we have cut discretionary spending. It’s the mandatory side that has run up the debt. The Social Security and Medicare Trust Funds were never supposed to go bankrupt – they were supposed to be sustainable.”
Four Times in 45 Years: “The funding process has only worked four times in 45 years. Any solution we come up with will fail unless we have some type of consequences if Members of Congress don’t get the job done. That includes OMB and the White House, who are charged with coming up with an approved spending plan to keep us out of this kind of disaster.”
This is a press release from the Office of Senator David Perdue