Aug 02 2011
WASHINGTON, D.C. – U.S. Senator Jerry Moran (R-Kan.) today issued the following statement on the Budget Control Act of 2011:
“Kansans have the right to know the truth. The truth is this plan does not offer a solution to the underlying problem of our crisis today: our government’s out-of-control spending. Even if fully enacted, it only slows the growth of spending, and that just barely. This plan will reduce spending by $21 billion next year. But given that we spend $4 billion more than we take in each day – those savings will disappear in less than a week.
“In March, I informed President Obama that I would not vote to raise the debt ceiling in the absence of substantial reductions in spending and structural changes to the way we do business in Washington, D.C. This plan does neither.
“Our national debt now stands at more than $14 trillion, but under this plan, our debt will continue to grow and will reach $22 trillion in ten years. Over the next three decades, our debt will become more than three times the size of our entire economy.
“This plan also ignores the stark warnings from credit rating agencies, which stated a $4 trillion deficit reduction plan would be necessary to prevent a downgrade in the U.S. credit rating.
“Unfortunately, business as usual continues in Washington today, and solving the problem was pushed off for yet another day. This plan might be considered a good ‘deal’ in Washington – but it is not good for the future of America.”