Pence's Approach to National Debt

In response to the escalating national debt, former Vice President Mike Pence has launched a nonprofit organization, Advancing American Freedom (AAF), urging lawmakers to adopt a more prudent fiscal approach. AAF emphasizes that merely addressing discretionary spending, which constitutes less than 30% of federal expenditures, will not suffice. The organization highlights that mandatory spending, which exceeds 60% of the budget, is the primary contributor to the national debt, as it lacks effective growth restrictions. To tackle this issue, AAF proposes several measures aimed at curbing mandatory spending. Key recommendations include implementing means-testing for future Social Security cost-of-living adjustments for high earners, halting President Biden's student loan forgiveness initiatives, and eliminating Obamacare subsidies for affluent individuals. Additionally, AAF advocates for the establishment of a congressional commission tasked with identifying potential spending cuts. Pence's initiative reflects a continuation of his previous efforts during his unsuccessful Republican primary campaign. He critiques the current political climate, suggesting that leaders often prioritize popular spending over responsible fiscal policies. This approach has contributed to the staggering $35 trillion national debt, with Pence acknowledging his own complicity during his tenure in the Trump administration, which saw an increase of over $8 trillion in debt. Despite the challenges, Pence's nonprofit aims to spark a necessary dialogue on national debt, an issue many politicians seem reluctant to address publicly. With nothing to lose, Pence is positioned to voice concerns that others may shy away from, potentially influencing future fiscal policy discussions.