The Hill News

Washington must start spending less and stop spending money we don’t have. We are $14 trillion dollars in the hole -â€" with $3.7 trillion added to the national debt just since President Obama took office. To put this in perspective: it took the U.S. from 1776 until 1992 (216 years) to accrue the same amount of debt that the president accumulated in two in a half years. At this rate, we are on the fast track to fiscal calamity.

With unemployment at 9.2 percent, we must enact a plan that will bring confidence and certainty to America’s best job creators -â€" small businesses -â€" without raising taxes as Democrats have demanded. We all agree that we must pay our bills, but raising taxes in order to sustain Washington’s largesse is not the answer; real and significant spending cuts are. The Cut, Cap and Balance Act would provide them.

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