I am writing today to express my support for Congressman Peter Roskam, who is running in the 6th District.
Our federal government is facing a fiscal crisis. Annual trillion-dollar budget deficits have become the norm and our debt is fast approaching $16 trillion. We are now facing a situation in which merely making the interest payments on our federal debt is busting our budget. Large portions of our debt are held by foreign nations, which represents a serious threat to our national security and provides other countries with leverage over U.S. foreign policy.
These factors together present a serious threat to our nation. If we continue on our current fiscal path, investors will start to lose faith in the ability of the U.S. to pay its obligations, which could cause further downgrading of the U.S. credit rating. Rising interest rates would mean higher interest payments, bigger budget deficits, and even more borrowing. The resulting spiral could lead us on a path toward a Greece-like crisis.
Peter Roskam is serious about getting our debt under control. Roskam supports serious deficit reduction measures like fighting Medicare fraud. Roskam also supports health care changes like tort reform and allowing trading across state lines. As rising health care costs are currently the largest driver of U.S. debt, these measures are vitally important. He also supports eliminating unnecessary regulations on businesses, regulations which are strangling the abilities of America's job creators.
I support Peter Roskam this November. It's time to get our fiscal house in order.