Cut, Cap and Balance Act Will Deal With Our Nation's Debt Crisis Now
July 19, 2011
Congresswoman Candice Miller (MI-10) spoke on the Floor of U.S. House of Representatives in support of the Cut, Cap and Balance Act, a measure Miller is co-sponsoring. The Cut, Cap and Balance Act will to cut $111 billion in spending in FY 2012, reduce non-security discretionary spending below 2008 levels and require Congress to pass a Balanced Budget Amendment (BBA) to the Constitution and send it to the states for ratification. If adopted, the BBA will legally force the government to only spend what it takes in. Miller said:
"Mr. Speaker, after years, literally years, of growing government and increasing spending beyond all reason -- it is now long past time to bring fiscal sanity to Washington and to put America on a path to prosperity. Today our national debt has increased and its exceeded now $14 trillion. Our debt has increased by almost $4 trillion -- which is more than $120 billion a month in new debt just since President Obama has been in office. $120 billion dollars each and every month with this new President. Government has grown so large that it now spends nearly 25% of our annual economic output -- a level not seen since World War II. This has crowded out private sector growth and the new jobs and opportunities the American people need and are demanding.
"This plan puts forward real cuts to spending -- no smoke and mirrors. It enforces discipline with real caps on spending and with a balanced budget amendment. And it gives the President the increase in the debt limit he is seeking if the balanced budget amendment is sent to the states. Mr. Speaker, I would urge my colleagues to join me in supporting this common sense reform."