Chuck Fleischmann joins in calling for “Cut, Cap, and Balance” response to debt crisis
WASHINGTON, D.C. – Congressman Chuck Fleischmann recently joined with other Members of Congress in sending a letter to Speaker John Boehner and Majority Leader Eric Cantor to call for a three-pronged approach to solving our debt crisis.
“The debt is the number one threat facing our country right now, and we must work to bring it under control immediately. That is why I voted against a clean raise of the debt ceiling without making significant spending cuts and budget reforms, and that is why I have signed this letter urging those spending cuts and budget reforms. We can no longer afford to kick the can down the road. It is time to get our fiscal house in order, and it is time to make the bold decisions necessary to do so,” Fleischmann said.
The letter calls for:
- Immediate spending cuts to slash the deficit in half next year.
- Statutory, enforceable caps that align spending with average revenues by ratcheting total federal spending down to 18% of GDP.
- House and Senate passage of a Balanced Budget Amendment to the Constitution that includes a spending cap at 18% of GDP and a high hurdle for tax increases. 47 Senators have already endorsed a Balanced Budget Amendment along these lines.
You can read the entire text of the letter here.