U.S. Representative Lou Barletta, PA-11, released the following statement after voting for the historic debt limit deal Monday evening:
This is not a perfect plan, by any stretch. But I cannot let the perfect be the enemy of the good.
This deal not only averts financial disaster, but it also cuts trillions of dollars in federal overspending. It includes serious spending controls, and it includes guaranteed votes on a balanced budget amendment. These are things that would never have happened without the massive wave that we saw in the midterm election.
More than that, we've changed the culture of Washington. If you think back to the president's state of the union speech, he proposed a five-year spending freeze. Today, we're trimming the federal budget by trillions of dollars. And these spending controls are made without jeopardizing Social Security benefits, Medicare benefits, and veterans' benefits.
This vote was so important that Rep. Gabrielle Giffords, who was wounded in a brutal attack in January, came to Washington to cast her vote. I was proud to vote with her on this historic issue.
I know that for some, this bill doesn't move far enough, fast enough. But Washington has overspent for generations, and we cannot change Washington's direction overnight. I am going to continue to seek additional spending controls so we get to reduce our debt, restore global trust in the American economy, and create stability so business owners can create jobs.
According to Rep. Barletta, here are the best parts of the deal:
1. There are more than dollar-for-dollar spending cuts vs. the debt limit increase
2. It establishes discretionary spending limits for fiscal years 2012 through 2021 and provides for automatic reductions in discretionary spending (sequestration) if annual spending limits are breached
3. There will be votes in the House and Senate on a Balanced Budget Amendment to the U.S. Constitution
4. There are no tax increases in the deal