From Cole Bennett
Columbus
Our national debt now stands at $36 trillion, a testament to the lack of fiscally responsible leadership and reckless spending shared by both parties. Looking at Congress today, it’s hard to find any real champions for combating the national debt, which is an ongoing tale of our legislative branch abdicating all power to the executive and judicial branches.
Massive spending bills are forced through Congress, and classified as “reconciliation bills,” which allows them to bypass the Senate’s 60-vote filibuster. This process is repeated any time there is a united trifecta of one-party control of the federal government, so that bipartisan compromise isn’t necessary in a deeply divided political climate. Inaction is unsustainable.
There are three main drivers of our national debt: Medicare, Medicaid, and Social Security – all entitlement programs intended to provide monetary assistance to children, the elderly, poor, and disabled. These three programs comprise 75% of our government’s mandatory spending. An aging population and a decreasing birth rate have flipped these programs on their heads. A smaller tax base is now funding benefits for a growing retired population.
Warning signs have long been present, and the time for action is now. Reform the programs as they are today so that they last for tomorrow, or we risk driving these programs into financial ruin. According to the CATO Institute, Medicare spending stood at $1 trillion in 2023, and will double by 2033; “twice what the US government is estimated to spend on defense that year.”
The One Big Beautiful Bill Act, signed by President Trump, is estimated to add roughly $4 trillion dollars to our debt. While the bill includes sensible policy like work requirements and tax break extensions, it furthers our debt spiral. Romina Boccia with the CATO Institute warns that lack of political will may cause “seniors (to) face a 21 percent cut to their Social Security benefits in 2033 and an 11 percent cut to Medicare Part A benefits in 2036.” These aren’t just numbers. These are people’s lives.
The War on Terror, the 2008 financial crisis, and COVID-era spending led us here. Under the Biden administration, backed by a Democratic-controlled House and Senate, 2021 spending peaked at nearly $7 trillion. While it may have been well-intentioned, it fueled inflation, leading to stagnant wages and rising costs. Peter Goettler with the CATO Institute warned in 2024 that inflation can trigger a debt crisis, suppress demand for U.S. debt, and jeopardize refinancing. National security is also a concern. Former Indiana Governor Mitch Daniels called it a “Second Red Menace” in his 2011 memoir, “Keeping the Republic,” when the debt stood at $14 trillion. Today, it has more than doubled.
So, what can we do? Call your elected leaders. Ask if they support a balanced budget. Vote accordingly. Indiana, with $2.5 billion in reserves and a AAA credit rating, shows it’s possible. In the words of Indiana State Comptroller Elise Nieshalla: “Make America Like Indiana.”
