FLEMINGTON, NJ – Congressman Leonard Lance (NJ-07) today said he was disappointed in the congressional end-of-the-year spending spree and said Congress must to do more to protect taxpayers and address the growing federal debt.

“In just a few short weeks this Congress has passed a $1.1 trillion spending bill to fund our government, raised our debt limit by nearly $300 billion to a total of $12.394 trillion and passed a so-called ‘jobs bill’ that carries a price tag of $155 billion,” Lance said. “These actions only add to our growing national debt. This means higher taxes, fewer jobs and more debt. We owe to future generations to get our fiscal house in order now.”

Earlier this week Lance announced a legislative package of bills aimed to control runaway federal spending and limit our Nation’s ever-growing national debt and deficits.

The “Pay It Back Act of 2009” would apply recaptured taxpayer investments toward reducing the national debt — including unspent funds from the American Recovery and Reinvestment Act of 2009 (federal stimulus) as well as the Troubled Asset Relief Program (TARP). Congress recently voted to use TARP dollars for unrelated spending.

Second, the “Deficit Reduction Act of 2009” would set fiscally responsible caps on congressional spending and debt. If Congress exceeds those caps, the Office of Management and Budget (OMB) would be required to make uniform spending cuts across all sectors of the federal government. Social Security, veterans programs, and other categories of spending would be exempt from the uniform cut.

Finally Lance is a sponsor of a resolution amending the Rules of the House to require that any increase in the statutory debt limit be considered as a stand-alone bill. The Seventh District lawmaker opposed raising the debt limit absent of any effort to reduce federal spending.

“Out-of-control spending and record national debt and deficits should be of grave concern to each and every American,” Lance said. “Instead of passing legislation that reduces spending and lowers our debt Congress has recklessly voted for continued spending and borrowing. We must get our country back on a path of fiscal discipline.”

Visit lance.house.gov/debt to learn more about Congressman Lance’s fiscally responsible efforts.

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