Federal Spending and the Economy |
As families are struggling to meet their family budgets, they have seen exploding deficits and a debt burden that threatens to cripple future generations and imperil our standard of living. Our accumulated debt is now more than $15 trillion, and Congress continues to be mired in controversy over how to get spending under control. Tom has consistently fought against uncontrolled spending and supports pro-growth policies to get our economy moving and Americans back to work. He supports delaying and eliminating burdensome regulation that is strangling our economy. Job creation will suffer until more certainty is provided for job creators as they struggle to determine what will be required under the new health care law, regulation and tax policies. In the current Congress, Tom has voted for the Ryan 2012 budget to reduce spending by more than $6 trillion over the next 10 years and for the “cut, cap and balance” bill to cut spending, cap future spending as a percentage of GDP, and approve a balanced budget amendment to the Constitution. In the fall of 2011, Tom joined over 100 House Members in urging the Joint Select Committee on Deficit Reduction (known as the supercommittee) to consider all options to “go big” and achieve at least $4 trillion in savings over 10 years (as opposed to the $1.2 to $1.5 trillion as required by law). The failure of the supercommittee to reach agreement in November 2011 will result in $1.2 trillion in across the board cuts in January 2013, but much more needs to be done. While upholding promises made to current seniors, reform of entitlements programs is necessary as the status quo is simply unsustainable for the future. |
 - Tom opposed the 2009 $800 billion stimulus which did little to promote real private sector job creation and reduce unemployment. - Voted against the $1 trillion health care law and voted in 2011 to repeal the law. - Voted against the Wall Street Bailout (TARP) – twice – in 2008. - Consistently votes against annual funding bills that include excessive spending and for amendments to reduce spending. Tom has long supporting caps on discretionary spending to promote fiscal discipline and supports pay-go as a means of deficit reduction – favoring spending reduction over tax increases – to be sure spending is paid for. He has consistently cosponsored the federal Balanced Budget Amendment. |
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