WASHINGTON, DC- The Budget Control Act of 2011 is a political Band-Aid that fails to provide real solutions to the nation’s crippling debt and spending problems. While the American people have been given no time to examine the fine print of this back room deal, the more we read the worse it gets.
“The deal has few immediate cuts totaling one half of one percent of the budget, with most savings coming in the later part of the decade,” commented Matt Kibbe, President of FreedomWorks. “How can we be serious about reducing the debt limit when we are not even talking about cutting programs like AmeriCorps and agricultural subsidies? This is not the serious reform Tea Partiers demanded last November.”
Standard & Poor’s has stated that anything less than $4 trillion in cuts will lead to an inevitable downgrade from the United States’ current AAA credit rating. “The ‘Cut, Cap, Balance Act’ is the only option on the table that would preserve the nation’s AAA credit rating and secure our long-term economic future,” added Kibbe. “We are disappointed that the GOP leadership was so quick to give up on ‘Cut, Cap, Balance’ after it passed the House. Rather than waiting for the Senate Democrats and the President to make a counter-proposal, the GOP began negotiating with itself.”
“The men and women of the Tea Party are the adults in the room, demanding that Washington act, not just posture. Tea Partiers shifted the debate towards budget cuts and debt reduction. Just a few weeks ago, President Obama was demanding a debt ceiling increase with no strings attached- standard procedure in Washington for years,” explained Kibbe. “Just two years ago, Congress passed an $800 billion ‘stimulus’ spending bill. Now, Congress is talking about spending cuts. This kind of 180 degree turn in economic policy was inconceivable two years ago.”
“The time to kick the can down the road is now over,” added Kibbe. “As we head into the new fiscal year on October 1st, our activists plan to keep the principles of ‘Cut, Cap, Balance’ alive.”
FreedomWorks will continue to mobilize for numerous state battles in the months leading up to 2012. Kibbe added, “This fight has made it clear that if we want serious spending restraint, like that found in the Cut, Cap and Balance Act, we need a fiscally conservative Senate and a fiscally conservative President. With more true fiscal conservatives in the Senate after 2012, we will balance the budget and get our fiscal house in order. The tea party movement has changed the debate. Next up is changing out more Congressmen. That’s where we will get our big policy changes.”