Economy & Spending

Our nation faces a serious debt problem. There is no question that the federal government is on an unsustainable spending spree, and many argue that increasing taxes is the easiest way for us to deal with our current spending crisis. 

Rep. Barletta believes that government spending is the real problem. Our government’s spending sprees have increased from a historic average of 20 percent of the GDP to more than 25 percent, or one quarter for every dollar the American economy generates.

To get our government’s debt and deficit under control, we must target government spending. 

Rep. Barletta voted for the Cut, Cap, and Balance Act (H.R. 2560). Cut, Cap, and Balance would cut spending by $111 billion in Fiscal Year 2012, impose fiscally responsible spending caps, and amend the Constitution to require Congress to pass a Balanced Budget Amendment before raising the nation's debt limit. This legislation would require Washington to balance the federal budget and help end the out-of-control spending and borrowing. The House of Representatives passed the Cut, Cap, and Balance Act. Unfortunately, the Senate did not approve this legislation. 

Also, the Congressman voted in favor of the Budget Control Act, S. 365. The Budget Control Act implements real cuts and spending caps totaling $917 billion over the next 10 years – all without raising taxes. In addition, the Budget Control Act advanced the cause of a Balanced Budget Amendment by requiring the House and Senate to vote on this measure before the end of 2011. If this amendment is passed by Congress, the president would be authorized to request $1.5 trillion in additional borrowing authority, which would raise our debt ceiling through the 2012 election. The Budget Control Act was passed by both houses and signed into law by the president. The Budget Control Act is neither ideal nor the ultimate solution to our nation's spending problem; it succeeds in cutting spending by a greater amount than we raise the debt limit and caps future spending to limit the growth of government, without any job-killing tax increases.

Rep. Barletta believes that there should be a Balance Budget Amendment to ensure that our nation’s federal budget remains in check.  As a co-sponsor of Rep. Bob Goodlatte’s (VA) resolution, H. J. RES. 2, the Congressman is in support of an amendment to the Constitution that would prohibit the federal government from spending more money than it takes in.  This would require that the President submits an annual balanced budget to Congress.  It would also make it significantly more difficult for Congress to raise taxes and require a three-fifths vote by both chambers to raise the debt ceiling.  Unfortunately, this piece of legislation failed to pass in the House last November.

If you would like more information about this issue, please contact my Washington, D.C., office.