Rep. Mike Thompson Condemns House Passage of 'Cut, Cap, and Balance Act'
“Don't let the name of the ‘Cut, Cap, and Balance Act' fool you. This misguided legislation may slash spending, but it's nowhere near fiscally responsible. It requires immediate and deep spending cuts that will put more Americans out of work and jeopardize our nation's ongoing economic recovery. Even worse, the bill holds an increase on the debt limit hostage to passage of a radical constitutional amendment that, if enacted, would actually make it more difficult to achieve balanced budgets.
“I'm not afraid to cut spending where it's deserved, and I've voted that way. However, this bill would completely devastate funding for crucial programs, including Medicare and Social Security. Cuts of this magnitude will undoubtedly harm our country's fragile economic recovery and result in hundreds of thousands of lost jobs. The ‘Cut, Cap, and Balance Act' is not about balancing the budget - it is merely cover for the most radical Members of Congress to look like they're doing something.”