Congressman Bob Gibbs released the following statement after the passage of The Budget Control Act of 2011, which cuts $917 billion in spending over 10 years while ensuring that the United States has the necessary funds to pay its bills:
"Today, I voted for The Budget Control Act of 2011 because it is a responsible approach to resolving our debt crisis and getting our country back on the path to fiscal responsibility. This plan makes real spending cuts, establishes enforceable spending caps on discretionary spending and requires a vote on a Balanced Budget Amendment to the Constitution in Congress.
"I have said all along: We must stop spending money we don't have, we cannot raise taxes, and I would not support a debt limit increase without significant spending cuts and reforms to reduce our debt. This plan cuts discretionary spending by $917 billion while raising the debt ceiling by up to $900 billion and accomplishes this without raising taxes.
"Most importantly, this plan is the most viable path to keeping America from default and preserving the credit rating of this country.
"While this bill isn't perfect, it denies President Obama the $2.4 trillion blank check he is seeking, and changes the fiscal trajectory of our nation without relying on the gimmicks and phantom cuts laid out in the Democrats' framework."