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Recently, our national debt surpassed $17 trillion, which amounts to more than $50,000 per citizen. Despite the urgency of addressing our looming debt crisis, the federal government still is expected to run a $700 billion deficit this year. The debt ceiling does not limit the deficits run or debts incurred by the federal government. Congress must use the budgetary process as the primary mechanism to address out-of-control spending and national debt. Without real reforms in our budget, we face the possibility of a debt crisis similar to what nations like Greece and Spain are experiencing today.
Earlier this week, Members of the House of Representatives and Senate gathered for the first meeting of the bipartisan budget conference committee, which is intended to negotiate a bipartisan 10-year budget by December 13, 2013 . This committee represents a serious opportunity to address the federal government's spending problem . We must use this opportunity to lift the crushing burden of debt by cutting spending, balancing the budget, and creating a long-term blueprint for economic growth.
My responsibility to you is to promote solutions which tackle the big problems we face today so we avoid facing even bigger problems tomorrow. As a member of the Committee on Ways and Means, I will continue to promote meaningful spending reforms to balance our budget and pay down our debt. For more information on this issue or to receive additional legislative updates, please visit http://adriansmith.house.gov .
Sincerely,
ADRIAN SMITH
Member of Congress
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