In case you missed it, Congressman Forbes’ recent editorial laying out a plan for the fiscal future of our country was featured in today’s issue of the Virginian-Pilot:

Taking control of our fiscal future
By REP. RANDY FORBES  

STIMULUS 3” sounds like a bad sequel to a string of never-ending movies. Instead, it’s the moniker being used to describe the new economic proposal announced by President Barack Obama last week. This new stimulus is aimed at accelerating job growth and laying a foundation for economic growth and funding “shovel-ready” projects.  

You may ask, isn’t that what the first two economic stimulus packages passed under President George W. Bush and Obama were for? The answer is yes.  

Americans are not buying into the “third stimulus is a charm” mentality. Despite repeated stimulus and bailout attempts, unemployment has climbed to 10 percent in the past several months. Our national debt hit another record high — $12 trillion — and House Speaker Nancy Pelosi will seek legislation this week to increase our federal debt limit. 

Divided among the U.S. population, the debt amounts to   $38,974.34 for every man, woman and child. The federal government will borrow 43 cents for every dollar that it spends this fiscal year. And just a few weeks ago, Americans discovered that the U.S. government’s official Web site that tracks stimulus spending included phantom congressional districts and proved to have little oversight or accountability over where the money is going.  

Americans know that more stimulus spending means more deficit spending and another contribution to a ballooning federal debt. That debt will be placed on the backs of our grandchildren and financed by countries like China.  

Because of that, Americans have spent the past several months raising their voices against a job threatening and deficit-bloating government takeover of health care, a “cap and trade” national   energy tax and an increasing limit on the national credit card. 

Yet Congress and the administration keep spending money without setting priorities or reducing waste. 

We need a paradigm shift in Washington. Our economy can recover, but not without a fundamental shift in how Washington views and manages taxpayer dollars.  

Here’s a simple three-step plan that would help us take control of our fiscal future:  

1. Cut the waste. Slash funding for wasteful, abusive and duplicative spending.
The Commission on the Accountability and Review of Federal Agencies Act, H.R. 1802, would establish a bipartisan commission to review federal agencies and programs to eliminate wasteful spending on duplicative, inefficient or outdated programs.  

2. Balance the budget. Constitutionally require Congress to balance the federal budget each year. The Balanced Budget Amendment, H.J. Res 1, would force Congress to enact fiscally responsible spending measures, reduce the deficit and ensure that the tax dollars aren’t spent on wasteful spending and programs.  

The bill requires that Congress not spend more than it receives in revenues, requires the president to submit a balanced budget to Congress and requires a 3/5 majority vote to increase the debt limit. This common-sense solution is already implemented in many states, including Virginia.  

3. Reform the system. Institute process and entitlement reforms that take a long-range budget view.
The SAFE Commission Act, H.R. 1557, would establish a commission that would review federal spending and develop legislation designed to address: (1) the unsustainable imbalance between longterm federal spending commitments and projected revenues; (2) increases in net national savings to provide for domestic investment and economic growth; (3) the implications of foreign ownership of federally issued debt instruments; and (4) revision of the budget process to place greater emphasis on long-term fiscal issues. 

Creating fiscal discipline in Washington is a first and necessary step on the road to economic recovery. Americans should demand nothing less from their government.   

Thoughts on this editorial? Email Congressman Forbes with your comments here.