"The budgets that were presented before Congress, and before the American people, represent a tale of two futures," Palazzo stated. "One keeps us on an out-of-control spending spree and allows sequestration to strip away vital defense spending. The other makes responsible choices that address the drivers of our disastrous debt and deficits and lives up to our greatest obligation under the U.S. Constitution: providing for the Common Defense."
Overall, when compared to the president's budget, the Path to Prosperity cuts spending by $5 trillion, prevents tax increases of almost $2 trillion, reduces deficits by more than $3 trillion, shrinks the size of government, repeals the president's health care law, and prevents the first year of damaging sequestration cuts to defense.
Congressman Palazzo has worked over the last few months with other House Republicans to raise awareness and work to prevent sequestration cuts that would threaten to further slash Department of Defense budgets. Earlier in the year, Palazzo released a video with other House Republicans on the Armed Services Committee, asking President Obama to address sequestration in his own budget. The administration's defense budget included no such provisions.
Language in the House version would prevent the first round of cuts, beyond the $488 billion already announced by the President, from hitting the military as a result of sequestration.
"Our plan is not just a Path to Prosperity, it's the Path to Security," Palazzo continued. "That's why I'm proud to support a plan that both makes responsible cuts to combat our debt and takes the necessary steps to preserve our vital national security interests."
Defense Secretary Leon Panetta has said that the large reductions of sequestration "would tear a seam in the nation's defense", giving the U.S. its "smallest ground force since 1940, the smallest number of ships since 1915, and the smallest Air Force in its history.