Iowa Congressman Steve King says it’s important for Congress to set plans in motion to get the federal budget balanced again. King says “we have to find a way to balance the budget” and get the federal government “back in the black.” After having a federal budget surplus for a few years, the Republican-led Congress has been deficit spending ever since 9/11. In fiscal year 2003, the federal budget deficit was 374 billion and officials predict it will rise to half a trillion dollars this year. King, who is a Republican, has voted for most of that deficit spending, but King says he did so reluctantly.King says homeland security “has consumed billions of dollars that didn’t get watched very closely.” King says homeland security “was the issue of the day” and the spending didn’t get challenged. King also has concerned about the dramatic rise in domestic spending. He says “we’re at war, and we should have been able to sacrifice here at home.” King says he wants federal spending to grow close the inflation rate. King says government should not grow faster than the private sector. King says the federal budget deficit isn’t hurting short-term growth, but it will dampen the long-term outlook for the nation’s economy. King says there are two schools of thought on how government can spur economic growth. One advocates tax cuts. Another advocates increased government spending. King says Congress and the President have employed both. King made his comments on Iowa Public Television.
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