#ReadtheBill: Posted by Don Seymour on February 25, 2011 Next week, the House will listen to the American people and vote on a second short-term “continuing resolution” designed to keep the government running while cutting $4 billion in spending. You can read the bill online here. This short-term measure keeps the government running for another two weeks, giving Senate Democrats additional time to consider H.R.1 -- House-passed legislation to fund the government through October. This short-term measure also cuts government spending by eliminating earmark slush funds and terminating several programs targeted in President Obama’s FY12 budget and the House-passed H.R.1. There’s a bipartisan consensus on making these common-sense spending cuts. The only people who stand in the way are Senate Democrats – and their “army of lobbyists” – who are determined to keep the spending binge going at all costs. Congress needs to cut spending to help end some of the uncertainty facing businesses and encourage them to begin hiring again. As we’ve shown, the plan by Senators Harry Reid (D-NV) and Chuck Schumer (D-NY) to keep government borrowing and spending at the “stimulus”-inflated “current levels” is not only unacceptable – it would make it harder for small businesses to create new jobs. Federal Reserve Chairman Ben Bernanke, for one, argues, “Sustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on U.S. output, incomes, and standards of living.” And a group of 150 economists signed a statement to the president urging spending cuts to boost our economy. Speaker Boehner said this afternoon “[t]hese stop-gap measures are only necessary because the Democrats who run Washington failed to pass a budget, failed to stop the spending binge that’s threatened job growth, and failed to lead”:
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Friday, February 25, 2011
Republicans Introduce Short-Term Measure to Keep Government Running, Cut Spending
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