At least I got a canned response?
Dear Mr. grizlbr : Here is the SAme Old BS. They Know It Is NOT WORKING! 16 States are at least moving? We need to do Something, We are going to be Neck deep in SHIT if we wait till Nov. I will stay legal until things change but I do not have to sit on my one"1" good hand till then!
Thank you for contacting me regarding our government's fiscal crisis. It is good to hear from you, and I appreciate your thoughts on this most important issue.
Washington is currently spending over $1 trillion more than it brings in each year, and our national debt is now $14.5 trillion and growing. No less an authority on national security than Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, has said that the greatest threat to our country is our growing debt and deficit.
Last year, the government spent at a rate of 25 percent of GDP (gross domestic product), and took in revenues of 14.5 percent of GDP. Each number is, respectively, a historic high and low. Coupled with the aforementioned $14.5 trillion debt that must be repaid, this is obviously unsustainable.
It is fundamentally unfair to require future generations to pay our bills when we have not found the will to do so ourselves. In the midst of this debate Congress was forced to address the United States' statutory debt limit to prevent a default on our fiscal obligations.
After months of intense negotiations, the President and Congressional leaders announced a compromise to raise the debt limit. S. 365, the "Budget Control Act of 2011," increased the borrowing authority of the government by $2.1 to $2.4 trillion. In exchange for this increase, the bill imposes spending reductions over the next ten years by the same amount as the increase through discretionary spending caps and from additional savings identified by a newly created Joint Select Committee on Deficit Reduction.
On August 2, 2011, the Senate joined the House of Representatives to prevent a potential default on our nation's fiscal obligations by agreeing to the passage of S. 365. Although the measure passed, I voted against the bill for several reasons including the provision to enable the largest debt-ceiling increase in America's history. In addition, the bill lacked the necessary enforcement mechanisms to ensure that proposed spending reductions will actually be realized, and failed to make much-needed reforms to the way our government budgets the expenditure of taxpayer dollars.
Even more disappointing is that our nation is still borrowing $4 billion a day, and with the passage of this legislation, the debt will actually increase, not decrease, by approximately $10 trillion over the next decade. Furthermore, this bill does nothing to address our accumulated debt.
Prior to final debate and passage of S. 365, I was a proud co-sponsor of, and voted for, the Cut, Cap, and Balance Act, which passed the House of Representatives, but, despite my support, ultimately failed to pass the Senate. Additionally, I have long been a supporter of the enactment of a Balanced Budget Amendment (BBA) to the U.S. Constitution. Of importance, as a part of S.365, we are now guaranteed a vote on such an amendment before the end of 2011. However, the passage of a Constitutional Amendment is an extremely high hurdle and lengthy process. Therefore, we should pursue additional avenues to fiscal reform along with a Constitutional Amendment.
Congress must maintain its focus on a real and serious long-term solution to America's debt problem. Recently, five of my colleagues and I developed a proposal to reduce the deficit by $3.7 trillion over the next 10 years, stabilize our publicly held debt by 2014, and impose tough and honest budget enforcement. We achieve these objectives by reducing discretionary spending, reforming entitlement programs, and simplifying the individual and corporate tax code. Our solution to this crisis uses spending reduction and increased revenue from economic growth. These are the principles that I have always believed in, and that are reflected in my voting record.
Our proposal eliminates the alternative minimum tax that ensnares the middle class. We broaden the revenue base significantly lowering all individual and corporate tax rates to make our tax code more competitive for U.S. businesses here and abroad. This is a proven path to prosperity that President Ronald Reagan implemented in the mid-1980s.
When it comes to tax policy, the government has picked too many winners and losers. Nevertheless, I am in favor of keeping tax deductions that provide real benefits to Americans. For example, there is no question that deductions for mortgage interest, charitable giving, and health care expenses have provided a significant benefit to many Americans and should continue.
Americans have demanded that their leaders make the necessary changes to put our nation on track to sustained economic growth and real job creation. These choices may not be ones we would like to make, but they are ones we must make now.
If you would like to receive timely email alerts regarding the latest congressional actions and my weekly e-newsletter, please sign up via my web site at: www.chambliss.senate.gov . Please let me know whenever I may be of assistance.
glad to have you around.