06.14.19

Senator David Perdue: Funding Process Is An Unmitigated Disaster

Offers Solutions To Change Washington’s Broken Funding Process

WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA), a member of the Senate Budget Committee, spoke on the Senate floor about the Fix Funding First Act, his solution to change Washington’s broken funding process.

Click here or on the image below to watch.

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Highlights:

$100,000 Per Second: “Today, we have $22.3 trillion in debt. I just checked. It’s going up $100,000 a second as we speak. I have a debt clock in the reception area in my office. That thing spins 24 hours a day. Even more concerning, we have more than $130 trillion of future unfunded liabilities coming at us like a freight train over the next 30 years. That’s $1 million for every household in America.”

Unmitigated Disaster: “This funding process is an unmitigated disaster that has led directly to this $22 trillion debt crisis that we have today.”

Designed To Fail: “I believe we will not solve this debt crisis unless and until we fix the way Congress funds the federal government. The current funding process is designed to fail. It doesn’t work. It hasn’t worked. It will never work. Since the Budget Act of 1974 was put in place, Congress has only funded the federal government on time four times, and the last time was 23 years ago.”

Definition Of Insanity: “The unfortunate reality is that we have faced this same predicament almost every year since 1974. Einstein once said, ‘insanity is doing the same thing over and over again, but expecting different results.’ That’s what this Congress has done continually over the last 45 years.”

Way Forward Is Clear: “I believe it’s time to fix this, and the way forward is pretty clear. The way I see it, there are three things we have to do to fix this funding process. First, we have to change the budget and appropriations process. Yesterday, I introduced a bill called the Fix Funding First Act that I hope will start a dialogue about this. Second, we have to address mandatory spending. We need to save Social Security and Medicare. Third, we need to adjust the current committee structure so the same committees can both authorize and appropriate.”

5 Simple Things: “The Fix Funding First Act I introduced yesterday does five simple things. First, it changes the federal government’s fiscal year to match the calendar year. Second, this bill establishes biennial budgeting. Third, this bill makes the budget a law. Fourth, it creates milestones with consequences to hold us accountable. Last, our proposal requires the Budget Committee to complete a 5-year strategic plan – just like people in the real world. I believe this is the first step to fix the funding process.”

Need To Face This Crisis: “America always does well in a crisis, but we’re often slow to realize we’re in a crisis. I personally believe we’ve been in a crisis for the last 15 years. Either we can wake up and face it now, or I think we’ll regret it later.”

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 When Senator Perdue was elected, he was the only Fortune 500 CEO in Congress. He is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.