Cornyn on budget: ‘We cannot sit on our hands and wait’
U.S. Sen. John Cornyn (R-Texas), a member of the Senate Budget Committee, on July 13 signed on as a co-sponsor of the Cut, Cap, and Balance Act of 2011, which was introduced by Sen. Mike Lee (R-Utah).
“With the President refusing to show leadership and the Democrat-controlled Senate refusing to pass a budget over the last two years, they have no better solutions than throwing more hard-earned taxpayer dollars at our fiscal problems and hoping they go away,” said Cornyn.
“Amidst a jobs crisis, runaway spending, and a fragile economic recovery, we cannot sit on our hands and wait for Democrats to come up with budget solutions,” he continued. “I’ve signed on to the Cut, Cap, and Balance Act of 2011 because it includes real solutions like a balanced budget amendment to the U.S. Constitution to get Washington to live within its means.”
The Cut, Cap, and Balance Act of 2011 includes three major components:
- CUT: Immediately cut spending by $142 billion;
- CAP: Cap spending at 2006 levels;
- BALANCE: Require the passage of a balanced budget amendment before the debt limit is increased.
MORE FROM Economics
- PHOTOS: Chevy unveils 2015 Colorado pickup, available fall 20141336 Views
- With lack of transportation funding, highway contractors shift to other fields330 Views
- Ford starts production of F-150 with CNG260 Views
- 25 Days of RollOuts: Cat Introduces Four New D Series Skid Steers237 Views
- Don’t mess with the toll roads; Virginia man racks up $250K bill231 Views