RSC Update: Still Only One Plan Solves the Problem

Monday, July 25, 2011



From the Chairman


Several weeks ago, S&P threatened to downgrade the U.S.’s AAA credit rating unless Washington comes up with a “credible solution” that saves at least $4 trillion and can be “enacted and maintained throughout the decade.” What does that mean exactly? It means any “deal” that relies on promises alone will not suffice because promises to cut spending later usually vanish into thin air. Only a Balanced Budget Amendment provides the permanence necessary to meet S&P’s standards. In other words, only the Cut, Cap, and Balance Act will protect our AAA credit rating and actually solve our debt problem.

A bipartisan “Gang of 234” in the House – with the support of two-thirds of Americans – approved the Cut, Cap, and Balance Act last week. Senate Democrats, however, used a procedural vote to halt debate on the measure. In the days since, the conversation has shifted to finding a “deal” to raise the debt ceiling rather than a solution to solve our debt problems. The credit rating agencies and the American public don’t just want a “deal” though. They want a real solution. Since Cut, Cap, and Balance is the only actual solution on the table, it’s the only plan I support.


49 out of the 50 states have to meet some form of balanced budget requirement. It’s time Washington was forced to do the same and finally live within its means.

God Bless,
Congressman Jim Jordan
Chairman, Republican Study Committee
1524 Longworth House Office Building

Washington, DC 20515
(202) 226-9717
rsc.jordan.house.gov
http://www.facebook.com/republicanstudycommittee