Click here to watch Rep. Miller’s speech on YouTube
WASHINGTON – U.S. Congresswoman Candice Miller (MI-10) today spoke on the Floor of U.S. House of Representatives in support of the Cut, Cap and Balance Act, a measure Miller is co-sponsoring. The Cut, Cap and Balance Act will to cut $111 billion in spending in FY 2012, reduce non-security discretionary spending below 2008 levels and require Congress to pass a Balanced Budget Amendment (BBA) to the Constitution and send it to the states for ratification. If adopted, the BBA will legally force the government to only spend what it takes in. The U.S. House passed the Cut, Cap and Balance Act by a vote of 234 to 190 and it now goes to the U.S. Senate for consideration. Miller said the following on the House Floor:
“Mr. Speaker, after years, literally years, of growing government and increasing spending beyond all reason -- it is now long past time to bring fiscal sanity to Washington and to put America on a path to prosperity. Today our national debt has increased and its exceeded now $14 trillion. Our debt has increased by almost $4 trillion – which is more than $120 billion a month in new debt just since President Obama has been in office. $120 billion dollars each and every month with this new President. Government has grown so large that it now spends nearly 25% of our annual economic output – a level not seen since World War II. This has crowded out private sector growth and the new jobs and opportunities the American people need and are demanding.
“This plan puts forward real cuts to spending – no smoke and mirrors. It enforces discipline with real caps on spending and with a balanced budget amendment. And it gives the President the increase in the debt limit he is seeking if the balanced budget amendment is sent to the states. Mr. Speaker, I would urge my colleagues to join me in supporting this common sense reform.”
The Cut, Cap, and Balance Act of 2011
CUT: Cuts total spending by $111 billion in FY 2012. The savings is divided as follows:
Reduce non-security discretionary spending below 2008 levels, which saves $76 billion
$35 billion cut to non-veterans, non-Medicare, non-Social Security mandatory spending
Defense budget at President’s level
CAP: Total federal spending is scaled back based on the glide path for the fiscal years below:
2012, 22.5% of GDP
2013, 21.7% of GDP
2014, 20.8% of GDP
2015, 20.2% of GDP
2016, 20.2% of GDP
2017, 20.0% of GDP
2018, 19.7% of GDP
2019, 19.9% of GDP
2020, 19.9% of GDP
2021, 19.9% of GDP
BALANCE: Requires the passage of a BBA before raising the nation’s debt limit. The BBA consists of three parts to control federal spending and prevent unnecessary tax hikes:
1. Amend the Constitution to require that total spending for any fiscal year not exceed total receipts;
2. Require that bills to raise revenues pass each House of Congress by a 2/3 majority; and
3. Establish an annual spending cap such that total federal spending could not exceed 18% of the economic output of the United States.
DEBT CEILING INCREASE CONTINGENT ON BBA: Provides for the President’s request for a debt ceiling increase if a qualifying BBA passes Congress and is sent to the states for ratification.
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