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As Congress works on the annual government spending legislation, we must take a close look at federal spending. In the budget process, the President submits and Congress passes the spending levels for the upcoming year. Unfortunately, just as the average family faces occasional emergency spending, America continues to see its share of increased spending as a result of unforeseen and difficult events this decade. We continue to fight terrorists who seek to harm our nation, and we are doing all we can so that our troops have the tools they need to fight those who would harm us.
In recent months we have seen the housing market falter. However, despite that challenge, our economy grew by 3.9% in the 3rd quarter of 2007. Significant increases in consumer spending led to this growth despite the grave problems facing the housing market. With our economy moving forward despite recent setbacks, we in Congress must focus on cutting excessive government spending and lowering taxes that burden families and small businesses.
In January, at the beginning of the 110th Congress, we saw the passage of “Pay-As-You-Go” rules that require any new spending to be fully offset by reductions in other spending, or tax increases. Unfortunately, the use of this new rule has not led to reductions in excessive government spending, but instead has been used to raise taxes and government fees, or the rule has simply been “waived” by the new Congressional majority. We cannot expect to tackle the real problems of an excessive federal deficit by selectively enforcing budget rules. I will continue to work to protect our economy by reducing our budget deficit.
On March 15, 2006, as the Chairman of the Subcommittee on Legislative and Budget Process of the House Rules Committee, I held a hearing on a proposal for “fast-track” spending cuts, or “expedited rescissions” that could be proposed by the President. During this hearing, my Subcommittee heard testimony from the Chairman of the Appropriations Committee and experts from the Congressional Budget Office and the Office of Management and Budget. I sincerely believe that Congress, if it wished to do so, could adopt mechanisms at this time similar to the ones that paved the way to a balanced budget in 1997. I was in Congress then. I know it can be done, and believe that it needs to be done again.
Please know that I will remain committed to greater fiscal discipline while supporting the necessary funding for security and other essential services in future budgets. Now is the time to better control spending, and although it is not easy, it must be a key priority for Congress.
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