House Conservatives Demand Deficit Cut in Half by 2012

House conservatives want to cut the budget deficit in half next year and reduce spending by $750 billion.

Money_Out_of_HatLeaders in the Republican Study Committee are circulating a letter to their 176 House members seeking support for a concrete set of demands that must be met in return for raising the nation’s debt ceiling.

The three demands include cutting the deficit in half, placing a ceiling on spending equal to 18 percent of gross domestic product and approval of a balanced budget amendment to the Constitution.

“The fast-approaching debt ceiling vote gives us an opportunity to make a bold statement to the American people about what direction we want our country to go,” the letter obtained by The Hill states.

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Source: Erik Wasson | The Hill