Yesterday, Senator Mike Lee and 20 senate cosponsors introduced S. 1340, the "Cut, Cap, Balance Act of 2011." This bill is a sound first step towards reining in Washington's out-of-control spending addiction.
As Senator Lee stated in his introduction of the bill, it lays forth three conditions that must be met before the undersigned Senators would agree to any increase of the debt ceiling.
The first two relate to immediate spending cuts to discretionary spending and statutory spending caps making sure that we start putting ourselves right now on a statutorily mandated glide path toward a balanced budget.
The third step which is by far the most important involves passage out of both houses of Congress by the requisite two-thirds margin a Balanced Budget Amendment to the Constitution, one that would cap spending as a percentage of GDP and one that would require a two-thirds supermajority in order to raise taxes.
Senator Lee went on to reiterate what Senator Paul and others have been repeatedly stating: This Congress, cannot bind future Congresses without a Balanced Budget Amendment to the Constitution.
Contact your Senators today and urge them to support the "Cut, Cap, Balance Act of 2011!"
Also, don't forget to sign your "Cut, Cap, and Balance" pledge today!