Topic: Government Spending
The Debt Limit DebatePosted on Apr. 21, 11 | 11:20 AM by Andrew Roth | Topic: Government Spending
Several pundits and political types responded. Here's an excerpt from my own contribution:
First off, it’s lazy journalism to state as fact that the country will default on its obligations if the debt ceiling is reached and not increased. The Treasury still collects tax revenue and has enormous capacity to pay its debts if such an event occurs. Indeed, if strong budget reforms are demanded – and Republicans hold tight – bond prices will naturally rise as Washington conveys to Wall Street and the rest of the world that it’s serious about cleaning up its balance sheet.
To that point, there’s a growing consensus that Republicans should demand the balanced budget amendment offered by Sen. Mike Lee (Utah) and Rep. Joe Walsh (Ill.). This pro-growth proposal caps spending at 18% of GDP and requires supermajorities in Congress to increase spending, taxes, and future debt limits. If such a proposal were adopted, the economy would take off like a rocket ship.
Member Comments (4)
House Passes FY11 Continuing ResolutionPosted on Apr. 14, 11 | 03:44 PM by Andrew Roth | Topic: Government Spending
New Press ReleasePosted on Apr. 01, 11 | 12:23 PM by Andrew Roth | Topic: Government Spending
Club for Growth Commends Senate GOP for Introducing Balanced Budget Amendment
Calls on House Leaders to do the same
WASHINGTON - Club for Growth President Chris Chocola issued the following statement after all 47 Republicans in the Senate introduced a balanced budget amendment (S.J.Res 10) to the Constitution yesterday:
"This is a bold and exciting plan. It takes power away from Washington and puts it into the hands of American taxpayers. We need to get our fiscal house in order and this is exactly the way to do it. We encourage all members in the House, especially Speaker John Boehner, to get behind this proposal immediately. And we hope that all members of Congress demand successful passage of this amendment as a prerequisite to raising the debt ceiling when that debate begins. No BBA, no debt ceiling increase."
"It's time to show the American public that Congress is serious about tackling the national debt, and this is the most serious plan to do that."Permalink: http://www.clubforgrowth.org/perm/?postID=14925
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Sen. Toomey on the Balanced Budget AmendmentPosted on Apr. 01, 11 | 10:28 AM by Andrew Roth | Topic: Government Spending
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Reasons Why General Motors Still StrugglesPosted on Mar. 23, 11 | 12:42 PM by Andrew Roth | Topic: Government Spending
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Tim Huelskamp Boldly Defies Leadership in Budget ShowdownPosted on Mar. 12, 11 | 02:37 PM by Andrew Roth | Topic: Government Spending
Russ Vought of Heritage Action captured Huelskamp's courage perfectly:
Club members ought to vote Huelskamp UP in the Power Ranking. Not just today, but every day. Leadership like this is rare and taxpayers should thank him for it.
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Senator Toomey's Maiden SpeechPosted on Mar. 01, 11 | 04:25 PM by Andrew Roth | Topic: Government Spending
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Awesome Photo of the DayPosted on Feb. 18, 11 | 08:48 AM by Andrew Roth | Topic: Government Spending
Proposal Leaves $42 Billion on the TablePosted on Feb. 07, 11 | 11:07 AM by Andrew Roth | Topic: Government Spending
But as our friends over at Heritage Action point out, GOP leadership has only proposed $58 billion in cuts....a whopping $42 billion short of the goal.
Their explanation? We're already five months into FY11 so Republicans decided to pro-rate their number.
Really? Pro-rate? Just cut $100 billion. The American people appreciate a pledge. They appreciate delivering on a pledge. What they don't appreciate is when politicians wiggle around a pledge.
I'm sure that House Republicans are sincere in cutting spending, but why don't they just deliver on what they promised in the most direct, simple manner possible?
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NPR Interview with Chris ChocolaPosted on Jan. 27, 11 | 10:09 AM by Andrew Roth | Topic: Government Spending
Toomey Op-Ed: How to Freeze the Debt Ceiling Without Risking DefaultPosted on Jan. 19, 11 | 08:26 AM by Andrew Roth | Topic: Government Spending
Be sure to read the rest, because Toomey makes a great argument. Once the debt limit is reached, the government can still fund 2/3rd of the government without taking on more debt. Default is not going to happen. Top priorities like servicing the debt and defending our country would receive proper funding. And by not raising the debt limit immediately, we could also help spotlight the programs that are questionable and could probably be eliminated.
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