Today, Congressman Jon Runyan (NJ-3) and 50 other House Members sent a joint letter to President Obama seeking specific details from the President on how the Administration plans to address the nation's debt crisis. Following recent media reports about behind-the-scenes proposals put forth by the President, the letter emphasizes the immediate need for the White House to provide specific details about the President's proposal to reduce spending.
"The President has requested that Congress increase the debt ceiling, and do so by August 2nd. I have said all along that any increase in the nation's debt must be coupled with a meaningful long-term plan to substantially reduce federal spending, grow our economy and create jobs," said Runyan. "While I remain optimistic that we can reach an agreement and am pleased that negotiations are taking place, any resolution requires the President to be specific of how he plans to achieve it.
The letter points out that no agreement is possible, without a proposal that offers details, such as hard timelines and accountability for those spending cuts.
" we believe it is imperative that the work towards any agreement be as transparent as possible so that the American people have a chance for careful evaluation of the process free from political posturing we respectfully demand you immediately submit a written, detailed plan for your proposal to deal with this debt crisis we await your response to this letter and look forward to working with you to resolve this crisis."
"The former director of the Congressional Budget Office - Douglas Elmendorf -- testified in front of the House Budget Committee in June," said Runyan. "When he was asked to respond to a budget framework outlined by President Obama in an April speech, Mr. Elmendorf replied: "We don't estimate speeches We need much more specificity than was provided in that speech for us to do our analysis.' I agree. The nation needs more than words. We are asking for a plan."
Later today, the House expects to vote on debt-reduction legislation (HR 2560) known as the "Cut, Cap and Balance Act of 2012." It follows passage in April of the House budget for fiscal year 2012 that addresses the long-term sustainability of Medicare and cuts spending by $5.8 trillion over ten years.