Spending Cuts and Debt
More on Spending Cuts and Debt
Rep. Kerry Bentivolio (R-Mich.) on Wednesday proposed a new bill that would require congressional salaries to be cut 15 percent any time Congress fails to balance the budget.
Bentivolio said his Spending Accountability Act, H.R. 3993, is needed to give Congress an incentive to cut the annual budget deficit, which is now at $600 billion per year and expected to rise.
The partial shut-down is now entering its third week.
Even while the chambers disagree on the continuing spending resolution, the House did pass bills to fund:
WASHINGTON, DC – Today, Congressman Kerry Bentivolio announced his co-sponsorship of HR 2967, the Intergeneration Financial Obligations (INFORM) Act. Several estimates suggest that the federal government has tens of trillions on dollars in unfunded liabilities. The INFORM Act requires the federal government to expose the truth about those unfunded liabilities by reporting various statistics throughout the budgeting process, allowing Americans to assess the promises being made by Congress.
WASHINGTON, D.C. – Today, U.S. Representative Kerry Bentivolio (MI-11) announced his cosponsorship of the Stability, Security, and Fairness Resolution, which was introduced by Rep. Tom Graves. If enacted, this resolution funds the government for FY 2014 while fully defunding and delaying Obamacare. Rep. Bentivolio released the following statement:
Today, the Congressional Budget Office released its annual update which projected that $7 trillion will be added to the federal debt over the next 10 years if the current spending policies stay in place. Congressman Kerry Bentivolio released the following statement:
The massive national debt we are accruing will leave our children with a weaker nation than the one we inherited from our parents.
In 2012, the Congressional Budget Office reported that the federal government ran a $1.1 trillion deficit — the fourth consecutive year the deficit topped a trillion dollars.
The persistence of these deficits will hinder our savings and future investments, inhibiting the American Dream for far too many.
For too long, Washington has battled over spending cuts and increased revenues.