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April 28, 2011

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Add your voice to letters opposing arbitrary federal spending cap

 

Tell Congress to take a balanced, principled approach to reducing the deficit; an approach that cuts wisely, taxes fairly and protects the most vulnerable. 

 

Time frame: Before close-of-business Wednesday, May 4

 

Issue: Deficit reduction proposals currently being debated in Congress would impose arbitrary caps on total federal spending, a move that would result in draconian cuts to Social Security, Medicare, Medicaid, education, transportation and many other vital services. A more balanced approach would achieve savings from all parts of the budget, including tax expenditures, while preserving programs that help the most vulnerable people.

 

Background: Congress reconvenes next week, and the biggest topic will be deficit reduction. In efforts to reduce the deficit, some have proposed a global spending cap or a Constitutional balanced-budget amendment. The stated goal is deficit reduction, but those strategies are a one-sided approach that could impair our ability to make investments that are important for future economic growth.

 

Rather than imposing arbitrary caps, Colorado's representatives in the U.S. Senate should address the federal budget deficit by adhering to principles developed by the President's fiscal commission: 

 

  • All three major areas of the budgdet -- discretionary spending, entitlement spending and revenues including closing tax loopholes -- should contribute to deficit reduction.
  • Deficit reduction proposals should not push families into poverty or widen the gap between rich and poor.
  • Congress should only consider multi-year caps on discretionary spending as part of a comprehensive deficit reduction plan that also includes revenues. 

 

Action needed: Sign on to letters drafted by the Colorado Fiscal Policy Institute asking Sen. Michael Bennet and Sen. Mark Udall them to oppose a global spending cap and pursue real, bipartisan solutions to solve the problem without jeopardizing opportunities for working families. Our voice will be magnified if we can add your name or the name of your organization as a signer to the letters. Please review the letters, linked below, and e-mail us giving permission to add your name to the letters. Please reply by close-of-business Wednesday, May 4.

 

Letter to U.S. Sen. Michael Bennet

Letter to U.S. Sen. Mark Udall 

 

Colorado Fiscal Policy Institute
789 Sherman St.
Suite 300
Denver, Colorado 80203