Lungren Votes to Remedy Nations Debt Problem

Washington, DC–Congressman Dan Lungren (R-Gold River-CA), voted in favor of legislation that will address the nation’s colossal debt burden, out of control government spending and take action on the debt ceiling. H.R. 2560, The Cut, Cap and Balance Act of 2011, is a serious response to a serious problem. House Republicans have put forth a proposal to the President's request for a debt limit increase while achieving serious spending cuts, binding budget reforms, and putting in place a balanced budget amendment. Lungren released the following statement:


“Tonight my colleagues and I proposed a plan that will ensure we don't continue to kick the debt can down the road. Our nation’s current debt burden will crush us if left un-checked. This is not about election politics it is about the future of our children and grandchildren. The fundamental question facing the congress is a clear one. Will we leave them saddled with a burdensome mountain of debt or will we have the courage to leave them a country where they have the same opportunities for success enjoyed by previous generations of Americans.”

Details of H.R. 2560
CUT
·         Cuts total spending by $111 billion in FY 2012. The savings is divided as follows:
·         Reduce non-security discretionary spending below 2008 levels, which saves $76 billion.
·          $35 billion cut to non-veterans, non-Medicare, non-Social Security mandatory spending.
·          Defense budget at President’s level.
CAP
Total federal spending is scaled back based on the glide path for the fiscal years below:
·         2012, 22.5% of GDP.
·         2013, 21.7% of GDP.
·         2014, 20.8% of GDP.
·         2015, 20.2% of GDP.
·         2016, 20.2% of GDP.
·         2017, 20.0% of GDP.
·         2018, 19.7% of GDP.
·         2019, 19.9% of GDP.
·         2020, 19.9% of GDP.
·         2021, 19.9% of GDP.
BALANCE
Requires the passage of a Balanced Budget Amendment before raising the nation’s debt limit.
DEBT CEILING INCREASE CONTINGENT ON BBA
Provides for the President’s request for a debt ceiling increase if a qualifying Balanced Budget Amendment passes Congress and is sent to the states for ratification.

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Congressman Dan Lungren serves as Chairman on the House Administration Committee in addition to serving on the Judiciary and Homeland Security Committees