February 15th, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement praising a proposal by Rep. Jim Jordan to cut another $20 billion from the budget:
"Rep. Jordan's proposal is a big step in the right direction, and will cut about $20 billion more from current spending levels. Coupled with House Appropriations Chairman Hal Rogers' proposal to cut $60.8 billion in the continuing resolution, House Republicans are coming close to fulfilling their pledge to cut $100 billion. All members should vote in favor of Rep. Jordan's amendment. These are excellent first steps by the new House majority.
"But more must be done. With a $14 trillion national debt, fast approaching 100 percent of the entire economy, and a $1.5 trillion deficit, Congress will need to find a whole lot more than $100 billion of cuts anyway. There will come a point where the debt becomes so large that it can no longer be serviced. The nation is already spending $413 billion a year in interest payments, which will likely rise to over $1.2 trillion by 2021. This is unsustainable, and will sink our finances sooner than anyone thinks.
"The only solution is to get the budget as close to balanced as possible and begin repaying the debt. House Republicans in their pledge also promised to 'pay down the debt'. It is a promise they must keep if America is to remain the world's number one economic superpower. We urge all citizens to continue to go to www.keepthepledge.org and urge House Republicans to keep their promises. There is too much at stake."