Rep. Ted Budd Leads NC Delegation to End Washington’s Spending Addiction

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Washington, January 30, 2020 | comments

Washington D.C. -- Today, U.S. Representative Ted Budd (R-NC) introduced H. Res 818 along with Reps. Meadows (R-NC), Hudson (R-NC), Murphy (R-NC), Bishop (R-NC), and Rouzer (R-NC).  At a time when the annual budget deficit is set to break $1 trillion in 2020, this resolution expresses support for a balanced budget and that the debt ceiling should not be raised without significant fiscal and spending reforms. 

Read the full resolution text here.


Rep. Budd said in a statement: 

“The federal government’s current fiscal path is simply unsustainable and risks triggering a financial crisis that would undermine the prosperity of the American people. Right now, the national debt stands at more than $23 trillion, which is equivalent to roughly $70,000 for each American citizen. We have to take action and reverse course. That’s why I introduced a resolution this week to make it plain what Congress’s priority should be: Ending Washington’s spending addiction.”

Rep. Mark Meadows said:

“A balanced budget is crucial for our economic success and America’s continued vitality for our children and grandchildren. This week’s Congressional Budget Office baseline underscores the problems we face: rising spending will lead to an estimated $36 trillion in federal debt by 2030. As this resolution states, this is not a revenue problem—it is a spending problem. While revenues are expected to increase 58%, spending will increase 61%. We must be willing to make tough decisions to put the federal government on the path to a balanced budget, and I want to thank Congressman Budd for his leadership on this issue.”

Rep. Richard Hudson said: 

“I’ve fought to cut reckless spending and tackle our nation’s debt, and today’s legislation underscores a common sense point that Washington can’t seem to grasp – our federal government can’t keep spending more than it takes in.”

Rep. David Rouzer said: 

“If Congress doesn’t get some guts and tackle the mandatory and entitlement spending that continues to drive the massive increases in debt, the consequences for future generations will be severe.  I’m pleased to join my colleagues in sponsoring this resolution — a good first step towards the reforms necessary to save the country from fiscal disaster.”

Rep. Dan Bishop said:

“At $23 trillion, the federal debt is out of control. It is clear that lawmakers will not balance the budget without systematic changes that force them too. That is why I fully support adding a balanced budget amendment to the constitution and requiring debt ceiling increases to be combined with commensurate spending cuts. I applaud my friend Congressman Budd for his leadership on this issue.”

Rep. Greg Murphy, M.D. said: 

“As a fiscal conservative, I proudly join my fellow North Carolinians to introduce this balanced budget resolution, and thank Congressman Budd for his leadership,” said Murphy. “With the most recent annual deficit exceeding $1 trillion and the national debt surpassing $23 trillion overall, it is past time Congress puts America on the path towards balancing its books by reducing spending. Raising the debt ceiling is just another temporary band-aid for a gaping wound.”

 
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