Congressman Jim Renacci (OH-16) today voted in support of the final passage of H.R. 1, the Full Year Continuing Appropriations Act of 2011, which will allow the federal government to continue operating through September 30, 2011.
"Under Democrat leadership, spending, deficits and debt have exploded to unprecedented levels and our nation has been put on a path toward fiscal disaster. The United States is currently more than $14 trillion in debt, a record high, and dangerously close to surpassing our national GDP. Our record-level debt is equal to $45,500 per American and $127,500 per taxpayer, and each day, the United States pays $1.273 billion on our interest payments alone," Renacci said.
"The Republican-led Congress pledged that we will roll back government spending to pre-stimulus, pre-bailout levels, and this bill saved $100 billion relative to the President's fiscal year 2011 budget request. My first priority remains on removing barriers to job growth, and I will continue to support policies that will stop the Washington spending binge to help grow the economy and create jobs. My vote in support of this bill was one step in that direction."
This Continuing Resolution represents one of the largest reductions in discretionary spending in the history of Congress. In addition to saving $100 billion relative to the President's FY 2011 budget request over the remaining seven months of the fiscal year, the legislation included several additional cost-saving amendments. One, introduced by Rep. Jim Jordan (R-OH), would have made $22 billion in additional cuts; however, it failed by a vote of 147 -- 281. Other amendments included in the bill prohibit the use of funds in the bill from being used to carry out the provisions of the ObamaCare health care law and prohibit funds from being made for any purpose to Planned Parenthood.
"Some of these cuts represent tough choices, but we need to take these tough actions in order to protect the future of our country," Renacci said. "Even if we all agree a program is efficient and needed, we can't spend money we don't have, especially when we have to borrow almost 40 cents on the dollar, much of it from China, to pay for it. The more the government borrows, spends and regulates, the harder it is for business to access capital, grow and create jobs. My hope is that this bill will be the first of many to significantly reduce federal spending."