Inglis: President's Freeze Is Small First Step. We Must Go Much Go Much Farther To Cut Spending.

Press Release

U.S. Rep. Bob Inglis (R-SC) said Wednesday the President's proposed three-year spending freeze on all non-national security spending was a good first step but the Congress must go much farther to cut spending and rein in the deficit.

Inglis said that while the idea is a positive move, in terms of fiscal responsibility, it will do little to dent the national deficit projected at $1.35 trillion. President proposed $250 billion in savings over 10 years from his freeze proposal, CBO estimates $41 trillion in federal outlays from 2010-2019.

"Freezing discretionary spending affects only less than 1% of the total budget, so we need immediate and significant steps to get our fiscal house in order.

"But the President is now acknowledging what we all know: we've got a huge problem with our debt."

Inglis signed on to a letter with other House Republicans this week asking the House Budget Committee and Chairman John Spratt to support a spending freeze but also propose some non-essential discretionary cuts.

Inglis is also a cosponsor on the Securing America's Future Economy Commission Act or SAFE Commission Act (H.R. 1557) - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address:

1. the unsustainable imbalance between long-term federal spending commitments and projected revenues;
2. increases in net national savings to provide for domestic investment and economic growth;
3. the implications of foreign ownership of federally issued debt instruments; and
4. revision of the budget process to place greater emphasis on long-term fiscal issues.

Source