House "Cut, Cap and Balance" Plan on Cavuto
Republican Study Committee:
As reported in prior post: The House Republican Study Committee shared that 103 House Republicans sent a letter [pdf copy of letter with signatures identified] to Speaker Boehner and Majority Leader Cantor calling for a "Cut, Cap, and Balance” response to the debt limit and the bigger debt crisis that’s just over the horizon. It’s a simple, three-part plan:
Tags: Cut Spending, Cap Spending, Balance the Budget, RSC, US House, Jim Jordan, Neil Cavuto, FoxNews, video To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
As reported in prior post: The House Republican Study Committee shared that 103 House Republicans sent a letter [pdf copy of letter with signatures identified] to Speaker Boehner and Majority Leader Cantor calling for a "Cut, Cap, and Balance” response to the debt limit and the bigger debt crisis that’s just over the horizon. It’s a simple, three-part plan:
- Cut spending to slash the deficit in half next year (requiring about $380 billion in spending cuts according to CBO)
- Cap spending so it aligns with average revenues (ratcheting quickly down to 18% of GDP from current 24%).
- Send a strong Balanced Budget Amendment to the states for ratification (with high hurdle for tax hikes and 18% of GDP spending cap).
Tags: Cut Spending, Cap Spending, Balance the Budget, RSC, US House, Jim Jordan, Neil Cavuto, FoxNews, video To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 3:39 PM - Post Link
4 Comments:
With all due respect, we heard rhetoric about cutting the "deficit" in the 80's and 90's, followed by self-aggrandizing accolades when the real 800 pound gorilla is the "debt," not the "deficit." The deficit is merely the rate of increase of the "national debt."
Cutting the deficit by 50% is a good start, but it should be 50% of 2008 spending levels, NOT half of the monstrous TRILLION dollar deficits that are occurring under the Obama Administration.
Secondly, most States have a "balanced budget" provision in either their state constitutions, or as a statutory requirement, yet less than a handful of States have balanced budgets. My point is two-fold: 1) balanced budget amendments do not guarantee balanced budgets, and 2) of the balanced budget bills in Congress, not one I've seen rises to the standard that Chairman Jordan says is needed. We should not need to amend the Constitution to force Congress and the government to spend within its means. That only requires backbone and character.
I agree with Jeff Lewis comment with regard BBAs. I have noted before that a Balanced Budget Amendment does not necessarily lead to reduced spending. It just leads to assuring that enough revenue is on hand to cover the anticipated budgeted expenditures. Also, budgets almost always ignore - do not reflect - the future unfunded mandates which are setting out in the future and may require even greater levels of revenue, thus more taxes or confiscations, to cover those incumbered costs.
And, Jeff, thank you for the other private comment. Points noted.
I hope they will take a stand on this! [I've been getting emails saying that all Rep's. are going to vote FOR raising the debt ceiling & will explain it by the good "deals" they received for their votes...what part of STOP SPENDING do they not understand???]
Terri,
Check the sources of those emails. Email Prognosticators usually have an agenda. And often the end plan is setup the scenario to be able to bash a Republican conservative.
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