The US government is facing a critical spending crisis as Congress and President-elect Donald Trump clash over the debt ceiling and government spending. The current budget resolution does not address the issue but instead avoids a shutdown. Experts argue that the debt ceiling invites confusion rather than limiting spending.
President Trump should immediately start cutting spending when he takes office in January, particularly in mandatory spending which accounts for 72% of the federal budget. This includes interest payments on the debt and programs like Medicare, Medicaid, and Social Security. These programs receive little oversight due to their autopilot nature through the appropriations process.
Discretionary spending, which will account for 20% of the federal budget by 2034, is subject to annual appropriations and has a higher potential for waste and abuse. Trump’s pledge to cut waste and special interest projects must be followed up on.
With the federal debt rising to $36 trillion and expected to reach over $50 trillion by 2034, drastic measures are necessary. The government needs to become more efficient and streamline spending immediately upon taking office.
Source: https://eu.detroitnews.com/story/opinion/editorials/2024/12/21/editorial-start-cutting-spending-now/77103273007