In a vote to avoid defaulting on our nation's debt, Congresswoman Mary Bono Mack (CA-45) today supported the bipartisan Budget Control Act of 2011. After passage of the debt ceiling agreement, Bono Mack released the following statement:
"Most importantly, this agreement preserves the full faith and credit of the United States and will cut nearly $3 trillion in spending over the next 10 years without raising taxes. That's a good start -- but it's only a start. Within 25 years, interest on our nation's debt, as well as entitlement spending, will surpass all federal revenues. Tough decisions must still be made. But to save critically important programs like Social Security and Medicare, it's imperative that we finally close the curtain on runaway deficits.
"This has been a long, contentious debate but a very important one for our country if we are going to finally end the destructive cycle of "buy now, pay later.' While Americans remain deeply divided over a wide range of issues, people from all walks of life agree that our dramatically escalating national debt -- now approaching $15 trillion -- threatens our nation's future prosperity.
"Let's have the debate about which programs should be cut. Let's prioritize what we need as a nation. And let's put America on the path to a balanced budget. In the end, we will be better off as a nation."