Congressman Duncan Hunter (R-CA), who served in the Middle East Wars, said he supports House Speaker John Boehner’s debt reduction plan and will vote for it later today.
“Over the last couple months, bipartisan negotiations on the debt limit have identified almost $1 trillion in budget savings,” Hunter explained. “The Boehner plan takes those cost savings and for the first time in history, attaches them to an increase in the debt limit. In total, the plan saves $917 billion over ten years, which is more than the debt ceiling increase. This amounts to significant savings and offers a reasonable approach toward achieving substantive debt reduction over the long-run.”
The Republican plan is the second package to make it to the floor in the House that leaves military spending in place and keeps the country on offense. “It’s a plan that keeps us moving in the right direction while protecting the country’s economic interests,” Hunter said.
The Congressman warns voters that the Democrat plan could cut Pentagon spending during a war and the Republican plan may be the last chance to avoid any government disruption.
“However, in the last two days, Senate Majority Leader Harry Reid has derided the Speaker’s plan, in some way suggesting it’s incompatible with his vision on the debt limit when the spending cuts in the proposal were settled weeks ago. Regardless of whether Harry Reid wants to admit it, the plan the House is voting on today is perhaps the last chance for the Senate to do what’s right.”
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The nonpartisan Congressional Budget Office (CBO) has confirmed the Republican plan cuts and caps spending by $917 billion over the next 10 years and will trim $22 billion in spending for FY2012.
The House plan reduces “discretionary spending each year compared to the President’s budget, $96 billion in 2012, $118 billion in 2013, $115 billion in 2014, $117 billion in 2015, and so on,” Hunter says. The plan also “requires Congress to draft proposals to produce reductions of at least $1.8 trillion that help protect programs like Medicare and Social Security from bankruptcy.”
It remains clear that the current Republican debt crisis bill doesn’t satisfy the “Tea Party” caucus in Washington, but as time runs out for America’s ability to borrow money, compromise may be the only option left.
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