Call the Sean Hannity Show:

800.941.7326  3-6 pm ET Mon-Fri

ADVERTISEMENT
ADVERTISEMENT

ARTICLES

Obama officially threatens to veto 'cut, cap and balance'

The White House on Monday warned President Obama will veto GOP legislation to “cut, cap and balance” spending and the budget.

In a statement of administration policy, the White House Office of Management and Budget labeled the GOP bill as an “empty political statement.”

The House Rules Committee is expected to take up the measure on Monday, and it is likely to receive a floor vote on Tuesday. The measure would cut spending in fiscal 2012 by $111 billion, cap future spending at 19.9 percent of gross domestic product and allow for the debt ceiling to be increased if a balanced-budget amendment is approved by Congress and sent to the states.

The administration said the measure, which is not expected to move through the Senate, is unnecessary and unrealistic.

“Neither setting arbitrary spending levels nor amending the Constitution is necessary to restore fiscal responsibility,” the White House said in its statement. “Increasing the federal debt limit, which is needed to avoid a federal government default on its obligations and a severe blow to the economy, should not be conditioned on taking these actions. Instead of pursuing an empty political statement and unrealistic policy goals, it is necessary to move beyond politics as usual and find bipartisan common ground.”

Article continues here.







ADVERTISEMENT

FACEBOOK

TWITTER

ADVERTISEMENT