Republicans Want Spending Cap at 18% GDP
congress, Nation, spending 10:35 AM
When a top Washington appropriator submits a bill capping spending, you know that the problem is serious. That's exactly what GOP Representative Jack Kingston R-GA and Republican Study Committee Chairman Jim Jordan are pushing. The bill would cap Washington spending at 18 percent of GDP, lower than the 20 percent in a bipartisan bill by Sens. Corker R-TN and McCaskill D-MO. According to the sponsor, the bill would eliminate the deficit in 5 years by requiring sharp cuts in all departments, including defense. House Speaker John Boehner has expressed support for strict spending caps, but hasn't yet endorsed this bill while he negotiates with the White House and congressional Democrats over a rise in the debt ceiling.
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Posted by Nick Stone
on 10:35 AM.
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