Last night, Congressman Billy Long voted to cut spending, enforce spending caps, and create a Constitutional amendment to balance the federal budget by voting in favor of Cut, Cap, and Balance in the U.S. House of Representatives.
"Washington is out of control," said Long, an original cosponsor of the bill. "It is time for our government to start living within its means. Giving a blank check to the government makes as much sense as investing with Bernie Madoff."
Cut, Cap, and Balance requires that any debt limit increase would have enforceable spending caps and make substantial spending cuts. Non-security discretionary spending would be set below 2008 levels - which saves $76 billion - and mandatory non-veterans, non-Medicare, non-Social Security spending would see a $35 billion cut, with the defense budget remaining at the President's level. A Constitutional balanced budget amendment would also become law and would require a super-majority in the House and Senate to pass any tax increases.
"This month, credit agencies sent another warning to Congress that this country's debt and other past spending is threatening America's future," said Long. "If we do not fully commit to reducing our deficits and debt, America's credit rating will be downgraded and Southwest Missouri's families and business will suffer from Washington's recklessness."