Alexander on Supercommittee’s Announcement: “This is a Failure of Governing, Not of Money—The Debt Will Be Cut By Another $1.2 Trillion, But It Will Be Done The Wrong Way”
Calls for focus on "the mandatory entitlement spending that is 55 percent of the federal budget, growing at three times inflation and bankrupting our country"
Posted on November 21, 2011
WASHINGTON – U.S. Senator Lamar Alexander (R-Tenn.) today released the following statement on the Supercommittee’s announcement that it was unable to reach agreement on a proposal to cut the nation’s debt by at least $1.2 trillion:
“This is a failure of governing, not of money—the debt will be cut by another $1.2 trillion, but it will be done the wrong way, without reforming the mandatory entitlement spending that is 55 percent of the federal budget, growing at three times inflation and bankrupting our country. The President and Congress should now work together on a pro-growth plan to cut the debt by $4 trillion: close tax loopholes, lower tax rates, raise revenues, and save Social Security and Medicare so seniors and future generations can rely on them. The Simpson-Bowles Commission, the Domenici-Rivlin plan, and the Gang of Six proposal all offer bi-partisan blueprints for how to do this.”
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