May 23rd, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued a statement urging the House to pass legislation by Rep. Jack Kingston that would balance the budget in five years:
"Representative Jack Kingston's plan to limit spending to 18 percent of GDP spending cap would balance the budget in five years with a surplus. That would position the U.S. to begin paying off the national debt come 2016, faster than any other proposal currently being considered. Coupled with action to cut the deficit in half for 2012 and the Balanced Budget Amendment, the Republican Study Committee is offering a smart approach that will help restore order to the nation's fiscal house now.
"Proposals like these should be attached to any increase in the $14.294 trillion national debt ceiling, which will give the American people confidence that members of Congress are addressing the debt crisis immediately. We cannot afford to wait."