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Monday, April 26, 2010

Rep. Mike McIntyre (D-NC07) calls for spending cuts!

April 26, 2010
McIntyre Calls For Spending Cuts
Washington, D.C. - U.S. Congressman Mike McIntyre announced today that he has co-sponsored legislation that would require the federal government to cut non-defense and non-security spending by nearly 6%, saving the American taxpayers over $400 billion.

The proposal, which will reinstate caps on federal discretionary spending, is a key component of the Blue Dog Blueprint for Fiscal Reform, a comprehensive plan to reduce the deficit, balance the budget and lay the groundwork for sound fiscal policies over the long term.

Congressman McIntyre stated, “We must rein in spending and get our federal budget under control. Reducing non-security spending is a solid step toward doing that. We must enact these sound policies to build that foundation for better and brighter tomorrow.”

Specifically, the Blue Dog Coalition - of which Rep. McIntyre is a member - proposal to cap federal discretionary spending would:
• Cut non-security discretionary spending by 2% for each of the next 3 years, and freeze spending levels for the subsequent 2 years.
• Complement the recently restored statutory PAYGO law which will help prevent increases in mandatory spending.
• Force Congress to prioritize our limited resources and make the tough year-to-year decisions necessary to restore balance to the federal budget.

Originally enacted under bipartisan agreements in the 1990’s, discretionary spending caps have a proven track record of controlling spending and reducing the deficit. Alternatively, since they were allowed to expire in 2002, discretionary spending has jumped by more than $538 billion, an alarming trend that threatens to cripple the nation’s economy and saddle future generations of Americans with mountains of debt.

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