Where Are the President’s Spending Cuts?

| December 11 2012

From the Republican Study Committee

Washington, DC is currently absorbed in the question of what to do about taxes and spending next year. House Republicans already approved our plan months ago to stop looming tax hikes and make sensible spending cuts. Then there’s President Obama’s latest proposal. Liberals laughably say it’s “balanced” with higher taxes and lower spending. The tax hikes are all-too-real. But if you cut away the smoke, mirrors and gimmicks as economist Keith Hennessey recently did, you’ll discover the Obama plan doesn’t reduce spending at all. It spends more!

So where are the spending cuts the president claims to support? The tax rate increase he wants on small businesses – which Ernst & Young says will destroy 710,000 jobs — would only pay for 8 days of government spending. The federal government is on track for a 5th straight year of $1 trillion deficits. Americans deserve to know what President Obama plans to do about it.

Will it be the $20,000 tax hike per family he has proposed? If so, I shudder to think of the impact on our economy.

God Bless,
Congressman Jim Jordan
Chairman, Republican Study Committee

 

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Outlook – A quick look at what’s on the horizon.

  • Negotiations between Speaker Boehner and President Obama on the fiscal cliff are expected to continue throughout the week.
  • On Tuesday, the House is expected to vote on a motion to go to conference with the Senate on the National Defense Authorization Act.
  • Friday is the latest deadline for states to decide between setting up their own ObamaCare exchange or leaving it to the federal government.

RSC Reports

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  • Stay up to date on budget and spending news with reports from the RSC Budget and Spending Task Force.
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  • House rules now require sponsors of legislation to provide a Constitutional Authority Statement that explains how Congress has the constitutionally-derived authority to enact their proposals. Click here to see liberals’ highly questionable attempts.
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