Where Are the President’s Spending Cuts?
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.
Congressman Jim Jordan
Chairman, Republican Study Committee
RSC Media Activity – RSC members work hard to ensure that the conservative viewpoint is well-represented in all corners of the media. Visit our Media Center for more.
- Rep. Ted Poe (TX-02): U.N. Should Butt Out of Israeli-Palestinian Conflict; Washington Times, December 3.
- Rep. Scott DesJarlais (TN-04): State-Run Health Exchange Costly, Unpredictable; The Tennessean, December 4.
- Rep. Tom Price (GA-06): House Republicans Stand by Taxpayers; The Atlanta Journal-Constitution, December 6.
- Rep. Sam Graves (MO-06): The Regulatory Cliff Awaits; Reuters, December 6.
- Rep. Jeff Duncan (SC-03): Obama Doesn’t See Seriousness of Debt Crisis; The Greenville News, December 8.
RSC Member Activity – RSC members make it a priority to introduce productive, conservative solutions for America’s future.
- Rep. Tim Griffin (AR-02) seeks cosponsors for H.R. 6322, the Employee Paycheck Protection Act.
- Rep. David McKinley (WV-01) introduces bipartisan resolution opposing carbon tax on American businesses and families.
- Reps. Trent Franks (AZ-02) and Rick Crawford (AR-01) lead coalition seeking Balanced Budget Amendment in fiscal cliff negotiations.
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.
- The RSC recently published a Policy Brief on disaster aid requests due to Hurricane Sandy.
- RSC Updates are now online! Looking for one of our recently released charts and graphs? Click here.
- Stay up to date on budget and spending news with reports from the RSC Budget and Spending Task Force.
- Check out the RSC Sunset Caucus’ work to shrink the size of government and the Repeal Task Force’s work to eliminate bad laws and regulations.
- 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.
- Read the RSC Money Monitor to track how bills passed by the House affect budget authorizations, mandatory spending, and federal government revenue.