Debt Crisis: Senate GOP Overwhelmingly Supports HR 2560, "The Cut Cap and Balance Act of 2011"

July 21, 2011

2:50 pm, Central

Diane W. Collins



Senate GOP Overwhelmingly Supports Cut Cap Balance

Senate GOP Overwhelming Support

HR 2560, The Cut, Cap and Balance Act of 2011

The Senate GOP came out in overwhelming support of HR 2560, "The Cut Cap and Balance Act of 2011" during a Washington press conference as the bill came to the Senate floor for debate.


A procedural vote is expected Saturday morning in the Senate. A successful vote brings the legislation to the floor for consideration and a final vote. If it fails it derails Cut, Cap and Balance. Why? Because Harry Reid and the Democrats hold the majority in the Senate. But, wait there is a strategy...


To this end, Speaker Boehner and Majority Leader Eric Cantor stated the House will recess for the weekend. Exceptional move. This forces the Senate to understand there is no other alternative to HR 2560, The Cut, Cap and Balance Act of 2011 if they intend to meet Geithner's self-imposed [X-Date] of August 2nd. There is no other plan in writing or legislative form, submitted and capable of meeting the qualifications established by the credit rating agencies threatening to downgrade the credit rating of the United States. Sen. Tom Coburn was on the Senate floor and in the Senate GOP press conference stating this very fact. This is impressive in that Coburn is a member of "The Gang of Six" and has produced his own plan called "Back in the Black." Coburn understands the time is now and recognized The Cut, Cap and Balance Act of 2011 meets all the objectives...


Let's review those objectives. HR 2560, The Cut, Cap and Balance Act of 2011 raises the debt ceiling by $2.4T as the President has requested so debts we have already incurred can be met. It also cuts $111B from the 2012 budget; caps future spending on a sliding scale starting in 2013 at 21.7% of GDP to 19.9% in 2021; and calls for a balanced budget amendment to be passed by a two-third majority in Congress and ratified by the states. How can Americans think Obama is serious about the debt and deficit if he vetos this bill?


In a demonstration of party unity Sens. Jim DeMint (R-SC), Tom Coburn (R-OK), Lindsey Graham (R-SC), Bob Corker (R-TN) Lamar Alexander (R-TN), Roger Wicker (R-MS), John Barrasso (R-WY) Kelly Ayotte (R-NH) John Thune (R-SD) to mention a few, stood shoulder-to-shoulder to address the press along with Sen. Mike Lee (R-UT) who introduced the Senate version of Cut, Cap and Balance, S. 1340 on July 7th. To say these are people of divergent views who have found the will to come together in support of The Cut, Cap and Balance Act of 2011 would be an understatement. The best moment of the press conference came when freshman House member, Rep. Raúl Rafael Labrador, (R-ID) born in Puerto Rico, told reporters covering the event, "You need to start telling the American people the truth." Congressman, we couldn't agree more.



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