Blog: Question of the Week: Federal Budget

Statement

By:  Elton Gallegly
Date: May 20, 2011
Location: Unknown

These questions are culled from phone calls, letters, faxes and e-mails sent to Rep. Gallegly's Camarillo, Solvang, and Washington offices. Each week Rep. Gallegly adds another question and answer. Please add your comments.

May 20, 2011

Question: How would the Ryan budget resolution lower the federal deficit and what are its chances of passing?

Answer: House Budget Committee Chairman Paul Ryan's budget resolution sets the federal government's budget policies for FY 2012 and projects spending, revenues, and deficits over a ten-year budget window between fiscal years 2012 and 2021.

The budget sets the total limits of spending, revenue and debt for a given year and outlines a plan to achieve those levels, but does not provide specific funding or policies for agencies or programs.

Specifically, this resolution would cut $6.2 trillion in government spending over the next decade, bring government spending to below 20 percent of the economy, and reduce deficits by $4.4 trillion. This would result in a balanced federal budget by 2015.

The Ryan budget resolution passed the House of Representatives by a vote of 235-191 on April 15. However, it is unlikely the Senate will also pass the Ryan budget. On Thursday, Senate Majority Leader Harry Reid put release of his budget plan on hold indefinitely.

That is unfortunate. We cannot borrow, spend and tax our way to job growth. Americans are hurting and increased government spending just puts an additional stress on the American economy, as well as placing Americans deeper in debt. We need a budget resolution that will put us back on track to cut spending, encourage job creation, reduce our deficits and debt, foster economic growth, and reform and protect health and retirement security for all Americans.

For more information on my positions on economic issues, please see my Economy issues page.

For previous Questions of the Week chronologically and by topic, please see my Questions of the Week page.