Debt Crisis and the Economy

For the past four years, President Obama has led our nation into trillion-dollar-plus deficits. In his most recently released budget plan, he called for $1.9 trillion in new taxes. Following the path Obama has set us on, our country is poised to reach a gross debt of $25.9 trillion by the end of fiscal year 2022. According to the Tax Foundation, Americans will work 107 days this year just to pay their taxes, which is longer than the American people will work for food, clothing, and housing combined. I have consistently voted to rein in out-of-control spending and put this country back on a path of success.

For example:

  • Opposed H.R. 365, the Budget Control Act, that only cut spending by as little as $6 billion next year and failed to prevent our nation’s credit downgrade.
  • Cosponsored and voted for adding a balanced budget amendment to the U.S. Constitution, as well as the Cut, Cap, and Balance Act that would save $5.8 trillion over 10 years and cap federal spending at under 20% of GDP.
  • Support H.R. 1848, the One Percent Spending Reduction Act, to reduce spending by one percent annually for six years and H.R. 2680, the Federal Realignment and Closure Commission Act, which forms a commission to cut duplication and waste in the federal government.
  • Voted in support of the Ryan Budget that cuts $5.3 trillion over the next decade, prevents $2 trillion in tax increases requested by the President, lowers tax rates, reduces the size of government, repeals Obamacare, reforms Medicaid, and replaces discretionary sequestration with mandatory spending cuts.
  • Introduced a bipartisan bill to auction excess government owned wireless spectrum, which is estimated to raise $12 billion for the U.S. Treasury and stimulate commercial innovation.

  • Paid for by Friends of Cliff Stearns, Copyright 2012