House "Cut, Cap and Balance" Plan on Cavuto

Republican Study Committee:


As reported in prior post: The House Republican Study Committee shared that 103 House Republicans sent a letter [pdf copy of letter with signatures identified] to Speaker Boehner and Majority Leader Cantor calling for a "Cut, Cap, and Balance” response to the debt limit and the bigger debt crisis that’s just over the horizon. It’s a simple, three-part plan:

• Cut spending to slash the deficit in half next year (requiring about $380 billion in spending cuts according to CBO)
• Cap spending so it aligns with average revenues (ratcheting quickly down to 18% of GDP from current 24%).
• Send a strong Balanced Budget Amendment to the states for ratification (with high hurdle for tax hikes and 18% of GDP spending cap).

With each passing day our nation’s fiscal health gets worse, leaving our children and grandchildren falling further into debt. Democrats seem to have given up, proposing even more borrowing in response to our massive debt addiction. With the problem growing larger every day, we must move quickly and unite behind a plan to cut spending and get our budget into balance.

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Tags: Cut Spending, Cap Spending, Balance the Budget, RSC, US House, Jim Jordan, Neil Cavuto, FoxNews, video To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!