Friday, February 26, 2010

Getting a handle on Government Spending

Virginia Congressman Randy Forbes, who represents the 4th congressional district, is activity working to hold Washington accountable for their out of control spending. Rep Forbes has sponsored bill HR 4479 “Tighten Washington’s Belt Act 2010” which proposes to cut discretionary spending by 40% through FY 2015.

According to Rep. Forbes:

“The Tighten Washington's Belt Act will force Congress to prioritize, to spend less, and to spend smarter. It will mean that bills packed with excessive, wasteful and duplicative spending can no longer fly through committee and over the President’s desk without direct consequences.”

The bill will call for a 10% reduction in discretionary spending over the next 4 fiscal years, with the exemption of benefits and compensation provided to active duty military and to veterans defined as discretionary spending. It is also, important to note this is for discretionary spending only, which accounts for 40% of the budget, and does not include spending for Medicare, Medicaid, and Social Security. So far there are no co-sponsors to this bill and it is currently in the House Budget committee. Please call your representative and ask them to sign on as a co-sponsor.

You can read more about the Tighten Washington’s Belt Act 2010 at Forbes website.

Another very simple bill which will freeze congressional salaries is HR 4255. Something that people may not be aware of is that congressional pay raises are automatic. This bill would “Stop the Automatic Pay Raise for Members of Congress in Fiscal Year 2011 Act”. So far Rep. Forbes, Rep. Goodlatte (VA-6), Rep. Nye (VA-2), Rep. Perriello (VA-5), Rep. Whitman (VA-1) and Rep. Wolf (VA-10) have all signed on as co-sponsors.

I once heard the saying, “getting out of debt is like busting out our prison, you have to chip away at it little by little”. These bills certainly put us on the track of chipping away at the debt. Is the more we can do, absolutely, but you have to start somewhere and I am glad to see Virginia Representatives on board.

1 comment:

  1. The United States has a $12.4 Trillion Dollar debt bill that will come due for your children and grandchildren. According to an RTD tool, all of Virginia's assessed property is equal to $1.15 Trillion. It would take 10 Virginias to pay off our national debt. Virginia's annual adjusted gross income is $227B. If every Virginian worked solely to pay off the national debt, it would take 54 years to pay it off.