» House GOP’s Spending Record Month One: So Far, So Good
Posted February 8, 2011on:
- In: Economy/Money | national deficit, taxes, national budget | National Politics | Politics 2011 | Rep Paul Ryan chairman House Budget Committee | Rep Tom Price | Rep. Eric Cantor's You Cut Program | Republican Committee Chairman 2011 | Republican House of Representatives 2011 | Republican House of Representatives 2011 | Republican House of Representatives 2011 | Republican's Pledge to America | Republican's Pledge to America | Senate Republicans 2010 | Senator Rand Paul | Thye Tea Party Patriots Movement
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Our newly elected Congressmen seem to have gotten the message from we the people and are busy finding and exposing a few of the huge pool of ineffective spending by our federal government. The problem is the Old Dogs both Republican and Democrat. It will be interesting to see which one wins this battle of wills. the next month or two are important because several spending bills,the budget and debate over whether or not to raise the debt ceiling are on the agenda. If the new guys are to have a fighting chance they need your help: make those phone calls and send those emails. (TIP: Congressional staffers reported that those blanket emailing where everyone uses the same wording have the least impact. So write your own email message. It can be brief as: Do Not raise the Debt Ceiling., or Do not bail out any cities or states with federal tax money. In fact brief and to the point is better. BB
by Robert Bluey
Republicans have controlled the House for little over a month, but so far the record is clear: The new GOP majority is living up to its promise to cut spending.
In the first four weeks of the 112th Congress, Republicans have passed legislation that cuts spending by $656 billion without a single spending increase.
The conservative Republican Study Committee’sMoney Monitor, (you might want to subscribe to this newsletter. BB) the only document tracking the cost of bills as they pass the House, has the data. It shows:
- $541 billion in mandatory spending cuts.
- $115 billion in authorized spending cuts (subject to appropriation).
- $770 billion in tax cuts.
Those figures stand in stark contrast to the previous Congress, when the Democrat-controlled House enacted $682 billion of new spending in just the first four weeks.
Of course, Republicans face a high hurdle to enact many of their cuts with Democrats controlling the Senate and President Obama in the White House. But that hasn’t stopped them from trying.
Expect more next week when Rep. Jim Jordan (R-Ohio), chairman of the RSC (Republican Study Committee),will offer several amendmentsto the fiscal 2011 continuing resolution. Conservatives maintain the GOP should cut a full $100 billion in non-security spending. The proposal released last weekby House Budget Chairman Paul Ryan (R-Wis.) includes $58 billion in discretionary spending, plus another $16 billion in security spending.
Since the Debt Ceiling debate is coming up very soon and the Old Dog Republicans, Democrats and Obama are all for raising the debt ceiling the newbie Republicans in the House are up against it here. Passing this one bill would have taken care of the argument that the honor of the United States is at stake. It is a simple law and perhaps that is the problem: it is too sane for our Congressmen to understand!
RSC Members Introduce Bill to Prevent a Default on the Debt
Washington, Jan 26 –
Led by Rep. Tom McClintock (R-CA), Republican Study Committee Chairman Jim Jordan (R-OH), Rep. Virginia Foxx (R-NC), and Rep. Scott Garrett (R-NJ), RSC members have introduced H.R. 421, the Full Faith and Credit Act. In the event the statutory debt ceiling is reached, this legislation would direct the United States Treasury to prevent a default by paying principal and interest due on debt held by the public before making any other payments. The bill has also been introduced in the Senate by Sen. Pat Toomey (R-PA).
“The ‘full faith and credit’ of the United States should not hang in the balance on every adjustment to the national debt limit,” said Rep. McClintock. “States protect their credit by pledging first call on revenues to their debts and so should the federal government. After all, before you can ‘provide for the common defense, promote the general welfare and secure the blessings of liberty,’ you have to be able to finance them.”
“A pitiful scare tactic already being used by the Treasury Secretary in the debt ceiling debate is the threat of allowing the federal government to default on its obligations,” said Chairman Jordan. “This is government mismanagement at its worst. Secretary Geithner knows full well that he has the authority to prioritize federal spending so that default is not an option. This bill will take Secretary Geithner’s disastrous scenario completely off the table.”
“America’s sterling credit rating is vital to our future prosperity,” said Rep. Foxx. “This bill offers a simple safeguard to protect our credit and prevent a sovereign debt crisis. It’s the sort of common sense solution that we can easily put in place without wading into the debate over raising the debt ceiling.”
“This important piece of legislation ensures America’s debt rating and the threat of default on our debt cannot be used as political weapons. This bill will remind the markets and the world that America will never default on its debt while giving Congress time to have a meaningful, reasonable discussion about how to rein in out-of-control spending and prevent our country from sliding further into debt,” remarked Rep. Garrett.