Monday, August 01, 2011
Billy Long votes for debt ceiling bill: A step in the right direction
(From Seventh District Congressman Billy Long)
Today in the U.S. House of Representatives, Congressman Billy Long voted in favor of the Budget Control Act of 2011, a bipartisan bill that would cut excessive federal spending, create enforceable spending controls, form a deficit reduction committee, establish a balanced budget vote provision, and prevent America from defaulting on debt obligations.
“The Budget Control Act of 2011 might not be perfect, but it is a step in the right direction,” said Long. “It has real spending cuts, tough spending controls, a balanced budget provision, and no tax increases. The simple truth is that in just seven months, the debate in Washington has changed from ‘How much can we raise taxes?’ to ‘How much can we cut spending?’”
The Budget Control Act makes a down payment on severe spending reforms with cuts and controls totaling $917 billion over the next decade. The bill reduces the FY2012 budget deficit by $17 billion and holds federal spending below FY2010 levels until FY2016. With the formation of the Joint Select Committee, Congressman Long is optimistic a serious plan to achieve another $1.5 trillion in deficit reduction can be produced by November of this year.
“No one knows the ramifications of not passing a debt ceiling increase and this plan prevents us from finding out, said Long.” “When Republicans only control 1/2 of 1/3rd of the government, this is about as good of a deal as we are going to get.”