Today the House of Representatives will be voting on one of the most important pieces of legislation that it will take up in the 112th Congress. The Cut, Cap, and Balance Act of 2011, if passed, would put America back on the path towards fiscal responsibility. We are a nation in economic crisis thanks to our $14 trillion national debt and continued runaway spending. President Obama and the Democrats in Congress refuse to introduce a feasible plan that will help address the crisis. The Cut, Cap, and Balance Act is the right piece of legislation at the right time.
“Cut,” “cap,” and “balance” are three simple words that President Obama doesn’t seem to have in his lexicon. The Cut, Cap, and Balance reform package, if passed, will put into law these critical steps in reducing our $14 trillion national debt:
1. Cut – Cuts total spending by $111 billion in the FY 2012 budget.
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2. Cap – Caps total federal spending from 22.5% of GDP in 2012 to 19.9% of GDP in 2021.
3. Balance – Requires the passage of the Balance Budget Amendment before the raising of the nation’s debt limit.
Please click here to view the op-ed.