Deficit & Debt

We must stop the out-of-control spending in Washington and begin reducing our skyrocketing national debt.  If we do not, we will begin to suffer from massive inflation costing our already fragile economy even more jobs.  I am committed to finding new ways to jumpstart our economy through responsible, common sense policies. 

In This Section:

• Benchmarks for Fiscal Reform
• Balanced Budget Constitutional Amendment
• Blueprint for Fiscal Reform
• Related Legislation (Sponsored or Cosponsored by Congressman Ross this session of Congress)
• Videos
• Related Documents & News Releases

Benchmarks for Fiscal Reform

The debate around our nation’s finances continues to dominate Congress, as it rightfully should.  Our budget deficits and the national debt continue to hinder our country’s long-term economic growth.  Unfortunately, too many in Congress are treating our fiscal situation like a political football, trying to score points wherever they can.  

The reality is that our problem is much more than congressional spending.  Yes, we need to cut congressional spending for federal programs and activities, also known as discretionary spending, and, I support many of those cuts.  However, this type of spending only makes up 15 percent of the federal budget.  Even if we cut all non-defense discretionary spending, eliminated every single federal program and fired every single federal employee, this nation would still run huge annual deficits.

For too long, Washington has punted this issue back and forth, between Democrats and Republicans and between the House and Senate.  They’ve either delayed its consideration or ignored it altogether.  Well, the time for games is over.  The American people deserve a serious conversation on our budget and that is my goal as your Congressman.

I recently helped launched an effort with the fiscally conservative Democratic Blue Dog Coalition, which I co-chair, to stop the games and start the bipartisan discussions.  Joined by many of my Blue Dog colleagues from around the country, we announced our Benchmarks for Fiscal Reform – an aggressive set of targets for long-term fiscal reform and deficit reduction that includes cutting the deficit by $4 trillion over the next 10 years, with the largest deficit cuts in history by 2014.

Targeted cuts in spending are an important part of the solution, but we are kidding ourselves if we think cutting a few hundred billion dollars is going to eliminate our deficit and solve our long-term debt crisis.  We have to take a comprehensive approach to our nation’s finances and no one side can do it alone.  My goal is to invite everyone – both Democrats and Republicans – to the table because until we start having a grown-up conversation, we will continue to mortgage our future on the backs of our children.

Already, I’m proud of the support we’ve received from economists and nonpartisan groups who care about the nation’s budget.  The Committee for a Responsible Federal Budget said our framework “is bold and balanced, and we’d all be lucky if the final deal reflects their framework.”  Fiscal Commission and Moment of Truth project co-chairs Erskine Bowles and Senator Alan Simpson said our benchmarks are “a very serious set of principles on how to attack this debt and deficit problems and indicates their willingness to reach out to both sides of the aisle to start having a really honest conversation about the long-term fiscal health of the country.”

More specifically, the Benchmarks for Fiscal Reform include the following goals:

• Make the largest deficit cuts in history by 2014
• Cut the deficit by $4 trillion over the next 10 years
• Return to 2008 spending levels by 2013
• Reduce the deficit to 2.3 percent of GDP in 4 years
• Reduce the size of government
• Achieve deficit reduction with 2/3 spending cuts, 1/3 tax reform
• Recognize that everything must be on the table:
  • Discretionary Spending Cuts – both security and non-security
  • Tax Reform
  • Entitlement Reform
  • Other Mandatory Policies
  • Process Reforms

• Require Congress to produce a balanced budget every fiscal year;
• Require the President to submit a balanced budget to Congress; and,
• Prohibit spending from exceeding revenue for that fiscal year unless Congress, by a three-fifths roll call vote of each House, authorizes an exemption.

For more information about each proposal in the Blueprint, click here.

With this blueprint, I am helping to introduce several common sense proposals that will put this country back on a path to balanced budgets and long term fiscal sustainability.  It is time to change the way Washington operates and we must begin to sincerely work together and develop solutions to these systemic problems.  We must roll up our sleeves and make the tough decisions necessary to once again put the country back on secure economic footing.  Washington needs a good dose of some common sense and I intend to provide it.

Politicians have a long history of talking about the deficit and debt, but few have concrete ideas, the courage or the will power to change the unsustainable fiscal path our country is heading down.  However, I, along with my Blue Dog colleagues, have put forth this Blueprint for Fiscal Reform to provide a concrete pathway to reduced deficits and it includes a number of proposals that historically have earned bipartisan support. 

For more information about each proposal, click here.

-- Blueprint for Fiscal Reform Bill Tracker --

Click on a bill title for description, text of the bill and to track its status. 

• H.R.678 : Repaying the American Taxpayer Act of 2011
• H.R.1043 : Reduce Unnecessary Spending Act of 2011
• H.J.RES.2 : Proposing a balanced budget amendment to the Constitution of the United States.

• June 10, 2011 - Discussing Debt Limit, KLRT Fox16 News, Little Rock, Ark.
• April 8, 2011 - Discussing Budget Negotiations, Fox News Channel
• February 8, 2011 - Discussing Budget Priorities, MSNBC
• February 7, 2011 - Discussing Debt Ceiling, Budget Debate - Fox News Channel