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America’s national debt recently surpassed $29 trillion, and it shows no sign of slowing down.

Washington, D.C.’s lack of fiscal discipline is jeopardizing America’s financial independence for generations to come. And what’s most alarming to me is that those in leadership now are creating socialist entitlement programs that could lead to an inescapable national deficit – one even the strongest of economies couldn’t outpace.

I’ve spent most of my life in the private sector. I understand what it means to make tough choices about what you can afford – and what you can’t.

As State Treasurer, I’ve used those lessons to better serve the people of Mississippi. For instance, I’ve worked hard to protect the state’s strong credit ratings, which has resulted in a series of debt restructuring deals that have already saved nearly $100 million. My team has also returned more than $40 million to the people of Mississippi through our proactive unclaimed money returns – an economic stimulus taxpayers didn’t have to fund.

Federal lawmakers aren’t making the same decisions. Instead of conserving resources, they’re creating massive entitlement programs that disincentivize work, force Americans into relying on Big Government, and open an ever-growing tab that taxpayers must pay in perpetuity.

That’s why I believe it’s time we add a Balanced Budget Amendment to the United States Constitution. We have to force elected officials to prioritize what’s important, rather than running up the American taxpayers’ tab with fruitless bureaucratic programs.

Earlier this month, Mississippi Governor Tate Reeves gave me a bigger platform on which to fight for these values, appointing me to the Compact for a Balanced Budget Commission. I was honored when, in the announcement, he stated: “David McRae is a fiscal conservative through and through. He understands the need to save for a rainy day and that we must strive to do more good with fewer taxpayer dollars. I am confident he will be a fierce advocate, not only for a Balanced Budget Amendment, but for a sound federal fiscal policy that will set the next generation up for success.”

I will always be a strong advocate for sound federal fiscal policy, and I look forward to the opportunity to create real change through a Balanced Budget Amendment.