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Time to Cut up the National Credit Card


Location: Washington, DC

Congressman Ander Crenshaw today (7/19) issued the following statement in support of the "Cut, Cap, and Balance Act of 2011" (H.R. 2560). The House is scheduled to take up the measure Tuesday, July 19.

"The fiscal facts are alarming: national debt stands at more than $14 trillion; Moody's warns of a potential bond downgrade; the national unemployment rate hovers near ten per cent," said Crenshaw. "And, yet with an August 2 debt default deadline looming, President Obama threatens to veto legislation calling on Congress to live within its means. American families and businesses make tough decisions to live within their means and budgets. Apparently, the President thinks he's exempt from having to do so. It's outrageous."

"Stopping the national spending spree means we must cut up the credit cards that have allowed the national debt to grow $3.7 trillion since President Obama took office," Crenshaw continued. "The "Cut, Cap, and Balance Act' will do just that by cutting spending in FY 2012 by $111 billion, capping annual spending at 19.9 percent of GDP, and requiring passage of a balanced budget amendment before raising the nation's debt limit."

"Turning this nation's economic ship around will take everyone's hard work," said Crenshaw. "Opposing common sense, fiscally-responsible legislation means you choose to stand in the way of a strong economy that we can certainly achieve by working together. On behalf of Northeast Florida and the nation, I say "yes' to cutting up the national credit card, controlling spending, and forcing Washington to live within its means. This is the right plan for right now, and we can't wait any longer."

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