|
Cincinnati
Enquirer...
Portman:
$1.5 trillion in cuts not
enough
September 13, 2011
The
so-called “super committee,” which
is tasked with reducing the deficit by $1.5 trillion over the next
decade, met
for the first time today and Ohio Sen. Rob Portman already has a bigger
vision
for the group.
“Cutting
$1.5 trillion means cutting
just 3 and a half percent of the total projected federal spending over
the next
decade. Some have asked whether we shouldn’t be doing more.”
“Our
goal of $1.5 trillion would
reduce (the growth of the federal debt) by only 12 percent,” the
Terrace Park
Republican said. “We should aim even higher. We should aim to do what
is
necessary to bring long-term sustainability to the federal budget.”
Read his
full statement.
The
first meeting dealt mostly with
approving the rules and organization for the group. In their openings
statements, the members of the committee talked about the need for
unity in
facing a serious threat to the country’s future.
“We
may not all agree on the solutions
to our problems and we may not even agree what the biggest problems
are. But I
know every one of us understands our nation faces serious challenges,”
Co-chairwoman Sen. Patty Murray, D-Wash., said.
Portman’s
suggestion of shooting for
more than $1.5 trillion in reductions was bolstered by Co-chairman Rep.
Jeb
Hensarling, R-Texas, who said the interest paid weekly to China on U.S.
debt is
enough for the Chinese to purchase two jet fighters every week.
“Without
action we will be the first
generation to leave the next with fewer freedoms and opportunities,”
Hensarling
said.
Portman,
who is a former White House
budget director seen by many as one of the top members of the panel,
urged the
committee to not only reach its budget deficit reduction goal, but to
be
mindful that its actions can dictate America’s future.
“Tweaks
and one-time savings could add
up to $1.5 trillion over ten years, yet they would leave in place
soaring
future deficits caused by unreformed entitlements,” Portman said. “The
American
people are counting on us, and we can’t let them down.”
Read
it at the Cincinnati Enquirer
|
