Nunnelee: Cut, Cap & Balance is the Plan to Address Our Nation's Debt

Press Release

By:  Alan Nunnelee
Date: July 19, 2011
Location: Washington, DC

Today, Congressman Alan Nunnelee (R-Miss) issued the following statement that he will vote for H.R. 2560, the Cut, Cap and Balance Act, when it comes before the U.S. House for a vote this evening.

"President Obama has maxed out our credit cards and every family understands what that means -- it's time to cut them up. Our country does not have a revenue problem, we have a spending problem," Nunnelee said. "Today, the House will vote on a solution that will cut up the credit cards and enact real reforms to make sure we are never in this mess again.

"Families and businesses in my district have been sitting down, cutting spending, balancing their budgets and making tough decisions. It's time for the federal government to do the same. A balanced budget amendment will legally force the federal government to only spend what it takes in and start living within its means -- a practice Mississippi families and businesses are asked to do every day, yet a practice our own President refuses to participate in.

"I urge the President to reconsider his veto threat. Cut, Cap and Balance is the responsible plan to address our nation's debt crisis. We have the power to act now, become responsible citizens and stop sending the bill to our children and grandchildren. Only then can we ensure that future generations grow up with the same promise and prosperity we enjoy," Nunnelee concluded.

The Cut, Cap and Balance Act will:

* CUT total spending by $111 billion in FY 2012, reducing non-defense discretionary spending below 2008 levels.
* CAP the amount the government is allowed to spend each year, bringing spending into line with the historic average of 20% of GDP.
* BALANCE by requiring the passage of a Balanced Budget Amendment in order to raise the debt limit. It provides that the President can request a debt ceiling increase only if a qualifying Balance Budget Amendment passes Congress and is sent to the states for ratification.