Guest column: Control the debt

As I travel around eastern Kansas and listen to folks, it is clear that the primary concern among the majority of Kansans is the strength of our economy.

Whether it is our $14 trillion national debt, our third consecutive trillion-dollar deficit, or the biggest concern of all — the lack of jobs — Kansans are struggling and need some relief.

Yet when I travel to Washington, the news I hear from the experts isn’t very encouraging. Credit rating agencies have indicated they will downgrade the nation’s credit rating unless we make substantive changes in our finances. The Treasury Department has announced that the debt will exceed gross domestic product by the end of this year, three years sooner than previously estimated. Furthermore, we recently received the May jobs report indicating unemployment has increased to 9.1 percent.

So for the first time in a long while Congress is receiving the same urgent message from Wall Street and Main Street — get this country’s fiscal house in order, provide certainty in the marketplace and, above all, remove barriers to job creation to get this nation back to work.

This message of financial responsibility and job creation has guided the work of House Republicans this year. We gained momentum by stopping the largest tax hike in American history in December. Then, we redoubled our efforts as we began repealing the burdensome aspects of the Obamacare package, such as, the 1099 requirement on small businesses. We reviewed the federal budget and cut trillions in wasteful Washington spending. Recently, as gas prices skyrocketed, we passed legislation seeking to increase domestic energy production, ease the pain at the pump and create jobs here at home.

Yet, as we continue our efforts to reform the tax code, pass three pending trade agreements, repeal burdensome federal regulations and work to ensure the long-term survival of Medicare, Medicaid and Social Security, the rapidly approaching debt limit zero hour has placed a fiscal tipping point in our very near future.

According to Department of the Treasury, we hit our debt limit of $14.294 trillion on May 16. Treasury is now taking “extraordinary actions” to push the deadline to Aug. 2. If the debt limit is not extended the economy would be in a dangerous position, but if we extend the debt limit without significant reforms our economy would be in a similarly perilous position.

The upcoming vote on the debt limit extension could be viewed as an opportunity for members of Congress to come together and show the American people and our markets that we are serious about conquering our debt problem, creating certainty and stability in our economy and growing jobs here at home. Sadly, however, this has not been the case to date. The Democrat establishment in Washington has ignored the warning signs of our impending debt crisis by pushing for a debt limit increase with no cuts or reforms and instead opting to tax their way out of this problem.

The American people won’t stand for this unreasonable position and are overwhelmingly opposed to higher taxes. In my town hall meetings, I rarely if ever encounter a Kansan who thinks they should be taxed more. We are in a debt crisis because Washington spends too much, not because it taxes too little. Some suggest we should increase taxes on the wealthy, but even if we taxed the top three tax brackets at 100 percent it would still not raise enough money to erase this year’s deficit alone. This is a false choice, and tax increases have been taken off the table in order to focus on a responsible, fact-based solution.

Americans understand that if the president and Washington Democrats want us to pay their bills, Washington will have to cut up its credit cards. That means any increase in the debt limit must be accompanied by substantial spending cuts and reforms to ensure that we balance the budget and develop a plan to eliminate the national debt. This isn’t about ideologies, it is about sustainability, certainty and job creation. We are in a deep hole of debt, and as we reach this tipping point the responsible thing to do is follow an honest plan to dig ourselves out.

I am confident we can reach an agreement by Aug. 2. The stakes are high, and we are at a crossroads. The future of our children and grandchildren is at risk of being crushed by a mountain of debt. Rather than engaging in the politics of fear and finger pointing, Washington must change course. All parties — the GOP-led House, the Senate Democrats and President Obama — must work together and find a common sense solution that avoids the perils of a debt crisis. The American people and our economy are counting on us to get this done, and I intend to help.

Rep. Lynn Jenkins, R-Kan., may be reached at (202) 225-6601 or by visiting

www.lynnjenkins.house.gov.