Palazzo: Cut, Cap & Balance Halts Obama’s Spending Spree

Washington D.C. – Congressman Steven Palazzo (R-MS) announced today he will vote in favor of the “Cut, Cap, and Balance Act,” legislation that would cut $111 billion in FY 2012, ultimately cap spending to 19.9 percent of the Gross Domestic Product, and provide for an increase in the debt limit contingent on Congress sending a Balanced Budget Amendment to the states. Congressman Palazzo had the following to say:

“Cut, Cap, & Balance halts President Obama’s spending spree that brought us the almost $1 trillion stimulus bill, the $2 trillion dollar government takeover of healthcare, and three consecutive budget proposals that each added to our deficit. Today’s vote will bring federal spending in line with historic averages, promote job growth, sustain our nation’s economic viability, and ensure that the future of America is secure.

“The American people have been searching for leadership during this critical juncture to solve our deficit and debt problem. House Republicans have provided a fiscally responsible plan to answer these problems. This solution stands in stark contrast to the president, who, has failed to present the details of any proposal. However, he has swiftly threatened to veto ‘Cut, Cap, and Balance.’ Mr. President, either accept the will of the people or stand up, take the lead, and offer a plan that the American people can examine and debate.”

Steven Palazzo Press Release
7/19/11