United States Senator Lisa Murkowski

Economy, Federal Spending & Taxes

With unemployment above eight percent nationwide and sluggish economic growth many American families are struggling just to get by. To set the nation on a more stable financial path, Senator Murkowski believes it’s critical for Congress to pass an annual budget that sets sustainable funding levels for the federal government, reduces overall spending levels and energizes the economy through comprehensive tax reform.

For too long, the U.S. government has been spending more than it takes in and then borrowing huge sums of money to make up the difference.

At this point the nation is borrowing 40 cents of every dollar it spends, a practice that has driven the national debt to unprecedented levels and set the stage for a critical debate about the proper size and role of government. America is facing some difficult decisions about priorities, but Senator Murkowski believes the current fiscal path is simply unsustainable.

Senator Murkowski laid out her concerns and vision in town halls across Alaska in October 2011, explaining that difficult decisions need to be made to solidify the nation’s financial future. 

(Click picture to view video of Fairbanks townhall event)

On February 13, 2012, the President released his FY13 budget, which outlines the President’s spending proposals for the fiscal year beginning October 1, 2012. Senator Murkowski believes the President has a responsibility to lead and to offer credible ideas that will put the nation back on a sustainable fiscal path. Instead of comprehensive spending, entitlement and tax reform, the President’s plan would add another trillion dollars to the nation’s debt this year alone.

Senator Murkowski’s view has remained constant from what she shared with Alaska at her economic town halls.  To build a sustainable fiscal path forward for our country and future generations:

• America needs a comprehensive package of real spending cuts – not the piecemeal approach that has become commonplace in Washington, DC
• Comprehensive tax reform that lowers rates, broadens the tax base and cuts the number of deductions and loopholes.
• Responsible reform of mandatory spending, including intelligent cuts to avoid funding that amounts to waste, fraud and abuse.