“For every dollar we are raising the debt ceiling, we are reducing spending by a dollar…if Congress did this every time, we’d balance the budget in 10 years,” says Senator Lamar Alexander.
WASHINGTON, D.C. – In a speech delivered on the floor of the United States Senate in advance of the Senate’s vote on the House-passed “Budget Control Act of 2011,” U.S. Senator Lamar Alexander (R-Tenn.) said that “at a time when the federal government is borrowing 40 cents of every dollar it spends, this is a welcome change in behavior that I am glad to support.”
“It is time to balance the government’s books and live within our means. These spending reductions are an important step—but they are just one step—and no one should underestimate how difficult the next steps will be,” Alexander said.
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Source: Office of U.S. Senator Lamar Alexander
Image: U.S. Senate