We work to provide straightforward and unbiased analysis, not seeking to support any existing ideological framework. Finding real solutions for the next generation requires people working to advance reforms wherever possible, regardless of their beliefs on countless other issues. We believe that people across the political spectrum can agree on some basic principles that the body of economic data suggests are true.
Current Rates of Spending are a National Problem
In 2017, the United States spent an estimated $4 trillion — that’s about 21 percent of the country’s entire economic output.
Deficits and debt will soon skyrocket, endangering small economic recovery in recent years, risking increased federal spending for interest payments on the debt, and even a potential fiscal crisis down the road. Thanks to dysfunctional budgeting, the idea of a “safety net” is becoming less and less safe. Indeed, those on all sides of partisan debates will see priorities endangered by ever-rising spending.
All Spending Should be on the Table
Polls show that a majority of Americans want to cut spending. And many politicians run on the promise of reigning in federal outlays. Why, then, has spending grown steadily over time? Why is the nation headed toward a possible fiscal crisis brought on by unrestrained spending growth, in which no program is immune from failure?
The answer, we believe, is simple. For too long, too few have been willing to look at the entire budget. Both parties are guilty of putting massive spending on a pedestal, circling the wagon on the types of spending they’d rather keep from scrutiny instead of agreeing on areas to cut. This attitude is harmful both to the nation’s fiscal health and also to the programs themselves. A well-run program is an efficient one, and shutting off major government departments from scrutiny harms efficiency and endangers the programs’ long-term health.
Changing D.C.’s Spending Culture is the Cause of our Generation
Recent economic reports demonstrate clearly that spending is the problem when it comes to budget shortfalls and skyrocketing debt. Questions of other economic policy may divide along partisan lines, but acting now to get our budgets under control is a reasonable solution that all sides should seek.
Achieving this goal requires balanced, accessible research on the budget. The Institute to Reduce Spending exists to fill that void.