Hartzler: “We are in a debt crisis not because the debt ceiling is too low, but because spending is too high"
The U.S. House votes tomorrow on the Cut, Cap and Balance Act of 2011, co-sponsored by Congresswoman Vicky Hartzler (MO-4), as a way to address the country’s financial crisis and permanently put America back on the right track.
“Cut, Cap and Balance is a substantive proposal put forward by House Republicans in the effort to end Washington’s reckless spending,” said Hartzler. “Cuts to total spending would amount to $111 billion in the 2012 fiscal year and trillions of dollars over the next decade. Total federal spending would be capped to force the government to live within its means by scaling back spending to 19.9 percent - the historical amount of revenue which typically comes in each year – by 2021. Finally, it requires a Balanced Budget Amendment to be passed BEFORE raising the debt limit.”
“This is the right approach to control spending,” continued Hartzler. “We are in a debt crisis not because the debt ceiling is too low, but because spending is too high. Our national debt is nearly $14.3 trillion – higher than at any time in American history. We currently borrow approximately 42 cents of every dollar we spend – much of it from China – and are saddling our children and grandchildren with mountains of debt. This is wrong.”
“We need to stop spending money we don’t have,” declared Hartzler. “House Republicans won’t agree to pay President Obama’s past bills or raise his credit limit by raising the debt ceiling unless he agrees to cut up the credit cards. The time to change course is NOW.
Cut, Cap and Balance requires passage of a Balanced Budget Amendment to raise the debt limit. The President will only be given a debt ceiling increase if a qualifying BBA passes Congress and is sent to the states for ratification. This debt limit plan will restore fiscal responsibility.
Vicky Hartzler was elected to Congress on November 2, 2010. She serves on the House Armed Services Committee and the House Agriculture Committee.