The National Debt

How Does It Affect Me?

The national debt places a drag on the economy and hinders economic growth.  It also affects every American in very real ways every day.

For example, last year 18 percent of all federal taxes collected were spent just paying interest on the debt.  Almost one dollar you paid out of every five was not used to educate our children, pave our roads, or defend our nation. 

The interest we all must pay on the national debt represents a "debt tax" that can never be repealed as long as the debt remains at its current levels.  The debt tax will consume larger portions of our money as government spending continues to increase at alarming levels. 

How Does the Debt Affect the Nation?

The national debt draws tax revenue away from programs mandated by the federal government.  Programs such as No Child Left Behind mandate changes in states' education systems, but since we are spending more than we are taking in, they become unfunded mandates.  States will be forced to cut other services or raise taxes to comply with federal unfunded mandates.

Congressman Cardoza's concern about our nation's spiraling debt crisis often leads him to take a hard line on spending increases in a variety of programs.  He believes that temporary gains we make for ourselves through reckless spending should never outweigh considerations of the burden we are passing on to our children and grandchildren.

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