Posts tagged balance

Sen. Rand Paul on Last Episode of Freedom Watch

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Rand Paul attacks Obama and the Republicans. 2/13/12

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Senators Issue Letter to House GOP Colleagues in Opposition to Debt Limit Extension Bill

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Source: http://paul.senate.gov/

WASHINGTON, D.C. - Today Republican Sens. Rand Paul, Mike Lee (Utah), Jim DeMint (S.C.), and David Vitter (La.) issued a Dear Colleague letter to their Republican House brethren, stating their opposition to tomorrow’s House vote on the debt limit extension and urging them to stand in opposition as well.

 

Upon issuing the letter, Sen. Paul offered the following statement:

“Members of both chambers of Congress who wish to protect American taxpayers must stand together in opposition of the current debt ‘deal.’ Tomorrow the House of Representatives will have that opportunity, and I hope they will find the courage to do so.

“The ‘deal’ at hand would lead to an increase of our national debt over the next 10 years by at least $7 trillion, and the amount of ‘cuts’ introduced in the first year are a measly $7 billion. More so, it doesn’t even balance the budget and all but guarantees a U.S. downgrade. There are so many things wrong with this legislation that will be passed on to the American taxpayer if enacted, the urgency of denying its passage is great.”

 

 

LETTER TEXT:

July 26, 2011

Dear Colleagues:

 

We write you today in strong opposition to the Debt Limit extension you will be considering in the House tomorrow. For many reasons, we cannot support this bill and urge you to protect the American taxpayers by strongly opposing this bill.

 

1)         The bill will lead to an increase of our national debt of at least $7 trillion in the next 10 years, assuming the maximum cuts in the bill actually materialize.  Using less optimistic CBO numbers, new debt could easily approach $10 trillion.

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