WASHINGTON. D.C. – House Committee on Oversight and Government Reform Chairman Darrell Issa (R-CA) today released the following video statement after the Budget Control Act of 2011 passed the U.S. House of Representatives by a vote of 218 to 210.
“The debt crisis is a result of years of overspending,” Issa said in the video. “If we’re going to end the crisis we need to both raise the debt limit and stop spending in Washington. We don’t have a taxing problem in America but a spending problem.”
In a mere 30 months, President Obama’s reckless spending has increased the national debt 35% to a record $14.3 trillion. The Budget Control Act changes this dangerous trajectory, according to the non-partisan Congressional Budget Office. Key provisions of The Budget Control Act:
- Cuts and caps spending by $917 billion over 10 years – more than the $900 billion debt hike.
- Achieves these real savings without raising taxes on American families and small businesses.
- Requires Congress pass a Balanced Budget Amendment to the Constitution before considering any additional debt ceiling increases.
- Establishes a bicameral, bipartisan, 12-member committee tasked with reducing the deficit by an additional $1.8 trillion over the next ten years.
RT @darrellissa: VIDEO statement on passage of #Budget Control Act: http://bit.ly/qrNw2l #debt
RT @darrellissa: NO leadership from @WhiteHouse while @SpeakerBoehner takes command. VIDEO: http://bit.ly/qrNw2l #debt
RT @darrellissa: Gov’t has #spending not #tax problem. We’re fixing it. VIDEO: http://bit.ly/qrNw2l #debt