1: National Economic Responsibility Other Information:
America has become addicted to debt. Every American is now burdened, most of them unknowingly, with $184,000 in federal liabilities
and unfunded government promises. Absent meaningful entitlement reforms and spending constraints, future tax burdens will
have to more than double for the country to get by. Budget controls, program evaluation, spending constraints, and tax reform
must be implemented to free up resources to address new priorities and meet new needs. With trade deficits now at twice the
previous record levels, and with our low national and personal savings rates, America also has become dangerously dependent
on foreign capital. Piecemeal changes will not solve these problems—comprehensive reforms are required to address them. Making
extraordinary commitments for the future before that future has arrived goes against the very nature of democracy. Each generation
must have the flexibility to set their own priorities according to the opportunities and needs of their time.
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