WASHINGTON, D.C. – On Sunday's C-SPAN's “Newsmakers,” House Budget Committee Chairman Tom Price, M.D. (GA-06) highlighted Restoring the Trust for All Generations – an initiative the House Budget Committee started this year to raise awareness about the tremendous fiscal and policy challenges inherent in the nation's health, retirement and economic security programs. Chairman Price discusses how the initiative would help Congress achieve the important solutions we outline in our budgets – like saving and strengthening Medicare, Medicaid and Social Security – by building a critical mass of support for reform.
"...We seem to pass a budget, and it’s full of all sorts of great things. A budget that balances within a 10 year period of time. Doesn’t raise taxes. Saves over $5 trillion. Puts us on a path to paying off the debt. Outlines a way to save, strengthen and secure Medicare and Medicaid. Defines a process for helping save Social Security. And then we move on.
"Which is precisely why the Budget Committee this year started a project that we call Restoring the Trust for All Generations. It’s a project to try to raise the visibility and create that critical mass of, yes, individuals in this town who understand and appreciate the need for getting our spending programs under control and saving, strengthening, and securing those mandatory automatic spending programs. But also creating the critical mass across this great land of people who will elect individuals, who will demand of their representatives that those issues be addressed.
"We are over $18 trillion in debt. Within a few short years we will be spending over $1 trillion annually, every single year on just interest on that debt. That’s more than we will spend on defense. It’s more than we will spend on education, on energy, on all sorts of things. That’s unacceptable to me, and that’s why we’ve started our project."