Congressman Don Manzullo (R-Egan) tonight issued the following statement upon hearing the news that the Joint Committee on Deficit Reduction failed to reach an agreement, thereby triggering $1.2 trillion of automatic federal spending cuts over the next 10 years
“It’s disappointing that the Joint Committee on Deficit Reduction couldn’t reach an agreement to significantly reduce spending and federal debt. With the federal government continuing to borrow 42 cents of each dollar it spends, the national debt surged past $15 trillion this week with no end in sight to the rampant spending. The historic debt our nation now owes threatens our economic recovery and job creation.
“Fortunately, the American people still win today as the lack of agreement triggers an automatic $1.2 trillion spending cut, which exempts Social Security, over the next 10 years. We must make sure that the total dollar value of these spending cuts, which are not scheduled to take place until October 2012, are not undermined in the coming year. But we must do much more. And we must focus more of our efforts on policies to help put Americans back to work. If we can get Americans working again, they will be paying more taxes and consuming less federal benefits. My American Jobs Agenda offers a plan to help our employers thrive again and create jobs.”
“It’s disappointing that the Joint Committee on Deficit Reduction couldn’t reach an agreement to significantly reduce spending and federal debt. With the federal government continuing to borrow 42 cents of each dollar it spends, the national debt surged past $15 trillion this week with no end in sight to the rampant spending. The historic debt our nation now owes threatens our economic recovery and job creation.
“Fortunately, the American people still win today as the lack of agreement triggers an automatic $1.2 trillion spending cut, which exempts Social Security, over the next 10 years. We must make sure that the total dollar value of these spending cuts, which are not scheduled to take place until October 2012, are not undermined in the coming year. But we must do much more. And we must focus more of our efforts on policies to help put Americans back to work. If we can get Americans working again, they will be paying more taxes and consuming less federal benefits. My American Jobs Agenda offers a plan to help our employers thrive again and create jobs.”
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