There are competing priorities in the reconciliation bill before Congress. Some want to make the 2017 Tax Cuts and Jobs Act permanent. Others want to reduce our $36 trillion national debt and prevent it from reaching $65 trillion by 2034. The goal should be economic growth — not just measured by the S&P 500, but by middle-class families’ ability to afford groceries, buy a home, purchase a car and live the American Dream.

To achieve that end, we must address spending and debt. Out-of-control expenditures and rising debt fuel inflation, pushing Treasury yields higher. This ripples through the economy, making loans tied to 10-year Treasuries more expensive. If debt climbs from $36 trillion to $65 trillion, as some proposals allow, it will pump more money into the economy, driving up inflation and the cost of financing that debt.

President Trump understands this. His efforts to cut spending, increase revenue in creative ways and

© The Hill