Translation: those "cuts" will occur over ten (10) years... and the GOP will "meet in the middle" with $1 trillion in cuts. And those will be mostly bogus, like the pathetic budget deal John Boehner agreed to a few months ago. When fully reviewed, we found that it actually added to the deficit!
The only leverage Republicans have is the debt ceiling. And that debt ceiling must. Not. Be. Lifted without serious reforms like those Jim DeMint (R-SC) has proposed.
Despite our nation’s staggering $14.4 trillion debt, the Obama Administration and the Democratic leadership in the Congress want to raise our nation’s debt limit without any spending cuts or reforms.
We believe that this is a fiscally irresponsible position that would place America on the Road to Ruin. At the same time, we believe that the current debate over raising the debt limit provides a historic opportunity to focus public attention, and then public policy, on a path to a balanced budget and paying down our debt.
We believe the Republican Study Committee’s “Cut, Cap, Balance” plan for substantial spending cuts in FY 2012, a statutory spending cap, and the passage of a Balanced Budget Amendment to the Constitution is the minimum necessary precondition to raising the debt limit. The ultimate goal is to get us back to a point where increases in the debt limit are no longer necessary.
If you agree, take the Cut, Cap, Balance Pledge!
Please join me: sign the pledge.
Failure to raise the debt ceiling will not mean financial catastrophe, despite the bizarre claims of our tax-troubled Treasury Secretary and our utterly feckless Fed Chairman. It will simply mean that President Obama and his budget-less Democrats will have to reorder spending. Furlough the bloated bureaucracy. And other steps that should have been taken decades ago.