Manzullo: Bill to end debt crisis ‘far from perfect,’ but will cut spending, strengthen economy

Online Staff Report

WASHINGTON, D.C. — U.S. Rep. Don Manzullo, R-16, voted Aug. 1 for bipartisan legislation to end the immediate debt crisis while cutting spending significantly enough to maintain America’s strong AAA credit rating necessary for a strong and healthy economy.

The legislation cuts spending more than it increases the debt ceiling, and does not increase taxes. It also requires the House and Senate to vote on a Balanced Budget Amendment by the end of the year. The legislation is supported by Citizens Against Government Waste, Americans for Tax Reform, National Federation of Independent Business, National Association of Manufacturers, the U.S. Chamber of Commerce and many other groups.

“This bill is far from perfect,” Manzullo said. “I think we could have cut spending much more deeply. But it does go far enough to preserve our strong AAA credit rating, and that’s vital to our efforts to strengthen our economy and help put Americans back to work. While this ends our immediate debt crisis, we must continue our mission to control spending to ensure America’s long-term economic security. The bottom line is our government borrows 40 cents of every dollar it spends, and that is not sustainable. In these difficult times, Americans have had to tighten their belts and learn to do more with less. Washington must follow their lead.”

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