Representative Vicky Hartzler (r) regurgitates even more republican debt hostage crisis spin:
@RepHartzler Rep. Vicky Hartzler
Moody’s said our bond rating would likely be moved to negative unless we passed real cuts to reduce the deficit. Pass Cut, Cap, & Balance! 8 hours ago
From the Center on Budget and Policy Priorities:
The “Cut, Cap, and Balance Act” that the House of Representatives will vote on next week stands out as one of the most ideologically extreme pieces of major budget legislation to come before Congress in years, if not decades. It would go a substantial way toward enshrining Grover Norquist’s version of America into law.
The plan would lock in cuts over the next ten years at least as severe as those in the Ryan budget plan that the House passed in April, by writing spending caps into law at the year-by-year levels of spending (as a share of GDP) the Ryan budget contains.
It also would hold the increase in the debt limit needed by August 2 hostage to approval by two-thirds of the House and the Senate of a constitutional amendment to require a balanced budget every year while effectively barring any increases in revenues. The constitutional amendment would make all revenue-raising measures unconstitutional unless they secured a two-thirds supermajority in both the House and the Senate.
The “Cut, Cap & Balance” measure cites three constitutional balanced-budget amendments (H.J. Res 1, S.J. Res 10, and H.J. Res 56) and states that Congress must approve one of them or a similar measure before the debt limit can be raised. All three of the cited proposals would require cuts deeper than those in the Ryan budget. All three measures would establish a constitutional requirement that total federal expenditures may not exceed 18 percent of GDP, and all three would essentially require that the budget be balanced within the coming decade.
The “Cut, Cap, and Balance Act” would require cuts totaling $111 billion immediately, in the fiscal year that starts 75 days from now, despite a 9.2 percent unemployment rate. These cuts would equal 0.7 percent of the projected Gross Domestic Product in fiscal year 2012 and would thus cause the loss of roughly 700,000 jobs in the current weak economy, relative to what the number of jobs otherwise would be.
The bill overturns a feature of various bipartisan budget laws over the past quarter century, by subjecting programs for the poorest Americans to the specter of meat-axe across-the-board cuts. It does so even as it protects tax breaks and tax subsidies for the wealthy and powerful by erecting a constitutional barrier to any measure that would raise any revenue….
Tax breaks for the wealthy? What a concept.
Rep. Vicky Hartzler (r): 2010 Financial Disclosure Statement (June 16, 2011)
Rep. Vicky Hartzler (r): Someone else noticed… (June 19, 2011)
And as if Vicky Hartzler didn’t contribute to the debt and deficit?