Monday, July 25, 2011

Morgan Griffith calls Obama budget plan “priceless”

Cutting Spending When It Counts

The debt limit debate continues. As I write, let’s review.

House Republican plans: 1) Cut, Cap, and Balance; 2) Speaker Boehner’s plan of Monday, July 25

Senate plans: 1) Minority Leader Mitch McConnell’s plan; 2) “Gang of Six” plan 3) Majority Leader Reid’s plan of Monday, July 25

President’s plan: PRICELESS (i.e. no plan) – Continue running up the government credit card with no controls

I am reviewing each plan to determine whether or not it will benefit the people of the 9th Congressional District and the United States long-term. Many of the plans have good components, and I am glad to see the Senate has finally joined the House in taking this matter seriously. I greatly respect House leadership for the efforts they have made and are making. I also would be remiss if I did not acknowledge that one of the few senators who has been working on our debt problem for months is “Gang of Six” member, Virginia Senator Mark Warner. While I do not always agree with him and do not like all aspects of the “Gang of Six” plan, he has at least recognized the need to deal with our nation’s debt problem.

The boldest plan offered to date would reduce spending by $111 billion next year. With the budget deficit for 2011 predicted to reach nearly $1.5 trillion and a national debt of roughly $14.3 trillion, we must cut more. To put these numbers into perspective, divide everything by $1 billion. Suppose that a family has a total of $14,300 in credit card debt, and each year they add $1,500 in new debt to the card. Cutting 111 dollars from this year’s new debt won’t be enough to make much difference.

It’s clear that Washington has a serious spending problem. The clock is ticking. Getting our debt under control will require that the White House come to the table and get serious about reducing the deficit. The President and Senate Democrats need to realize that if we continue borrowing 40 cents of every dollar we spend, America will not continue to be the number one nation in the world for long. This week the House will continue to work on a plan to solve our nation’s spending problem. I will keep you up to date on any progress in Washington.

EPA Regulatory Relief Act Gains Steam in Congress

While the debt limit takes center stage, I am still hard at work fighting for regulatory relief from the EPA and for jobs in the 9th District. In June, I introduced H.R. 2250, the EPA Regulatory Relief Act. A number of industries are concerned about the EPA’s Boiler MACT rules and the impact on jobs. The EPA itself has asked for 15 months to revisit its earlier set of rules, two of which the agency has recently delayed. The EPA Regulatory Relief Act grants the EPA the time they have requested to put forth regulations for non-utility boilers and incinerators that are practical and achievable and will also give the industry more time to comply with the rules. The House Energy and Commerce Committee is expected to take up the EPA Regulatory Relief Act this fall.

To date, more than 85 of my colleagues, including 19 Democrats, have signed on as cosponsors of the EPA Regulatory Relief Act. These cosponsors represent districts from coast to coast that will be adversely affected by the EPA’s proposed regulations. I have been encouraged by the positive response to this legislation from various industries as well as the support from my colleagues on both sides of the aisle in the House. In addition, H.R. 2250 is supported by the U.S. Chamber of Commerce, National Association of Manufacturers, American Forest and Paper Association, and the American Chemistry Council.

As a signal of progress on this issue, Senator Susan Collins (R-ME), along with a bipartisan group in the Senate, introduced similar legislation (S. 1392) to delay the Boiler MACT rules last week. I look forward to working with the Senate to ensure this regulatory relief bill becomes law in order to protect valuable American jobs.

Posted By Valerie Garner

Categories: Finance, National, Politics

Tags: , , ,

Comments (7)

Mitch Bupp

July 26th, 2011 at 7:49 AM    


The GOP deregulation assualt on government continues. The GOp pushed for deregulation of the banking sector and we are living with the result. The GOP doesn’t care about jobs which pay a decent wage. Today, the GOP is nothing more thqan a public relation arm of corporate America and they don’t care about people unless they give big bucks to their political coampaigns. Morgan is nothing more than a new brand of sellout screwing the American people for the benefit of their campaign donors.

If Morgan really wanted to cut spending … eliminate the bankster bailouts by the FED; cut your own wages and office budget; raise taxes (AKA get another job) and cut out all of the tax loopholes ….

Jack Mcguire

July 26th, 2011 at 1:45 PM    


@ 1

If that was all we did it wouldnt make even a tiny dent in our deficit. We need serious cuts and a balanced budget amendment to start living within our means. And the whole idea that we spend money we dont have all year and then raise the debt ceiling after we spend the money is unreal. Try that at home one time and see where it gets you.
And remember that Obama himself voted against the raising of the debt ceiling in the past. Calling the need to raise it a “lack of leadership.” In reallity, the Dems took an Historical drubbing last election, and the victors are doing exactly what they were elected to do.

Val

July 26th, 2011 at 2:39 PM    


Jack,

Have you never borrowed money, mortgage, car or credit card? Corporations and small businesses do the same or they couldn’t operate.

The balanced budget amendment is smoke and mirrors.

The next election we will swing the party pendulum back to the Democrats after this fiasco.

Until we get moderates (common sense) back into office who can negotiate this is what you will get

Jack Mcguire

July 26th, 2011 at 4:21 PM    


Comparing govt. running up incredible sums and counting on raising of debt limit to personal credit cards (or Corporate loans) doesnt wash. It would be like you buying a million bucks in product when you only had 1/2 mill in credit , and hoping that you would get a credit increase to buy it after you made the purchase.. The debt ceiling is there for a reason. And I disagree that the Dems will swing back in next time,I look for more Dem losses,but not as huge as the merciless drubbing they took last time.

Obama himself voted against it(increasing the debt ceiling) in 2006 saying that the need to raise the limit was due to “leadership” failure. He also said that Washington was passing this on on the backs of our “children and grandchildren”.
We need a total revamping of our govt. system. We don’t need moderates who want the sameole sameole. We need change Ron Paul style, and God bless the Tea Party for holding Reps feet to the fire on these issues. Thats why they were elected.
And they are actually doing what they said they would,a refreshing change from past candidates.

Val

July 26th, 2011 at 4:54 PM    


Jack,

The debt ceiling shouldn’t even be there. Do you know how fixed costs can rise – heck like my cable rate, home insurance, gas, etc. Without any additional revenue (due to the recession) stuff happens.

It’s a revenue problem that got us into this fix along with wars, prescription drug plan and tax reduction for the wealthy that put us in this fix.

The bailout of the auto industry has worked. If the banks were not bailed out you’d be eating at a soup kitchen.

Economics is a tangled web and a house of cards in the global economy. One card crumbles (country default) and the whole system spirals down the toilet.

It is not as simple as you and the Tea Party make it sound.

Actually on second thought voters my throw out all the incumbents after this fiasco.

Jack Mcguire

July 26th, 2011 at 5:22 PM    


It was just announced that we will take over a billion dollar loss in the bailout deal with Chrysler. I have heard of other losses as well, not so sure it worked, at least not for the tax payer. Remember we were told we would actually profit from the bailout loans.
As far as the ceiling. Im sure they will raise it at some point. Obama just doesn’t want to be on the campaign trail when this comes up again. That is why he wants a longterm deal. But that said, I contend that the sky will not fall on Aug. 2nd if not raised.

Val

July 26th, 2011 at 9:55 PM    


LOL, I was just stocking my parent’s ol’ fallout shelter for August 3rd.

If we had lost our standing as an automotive innovation country … that would have been a sad day. People have jobs and we have American-made cars and that is worth any bailout money to me.

BTW, good forum tonight with Nutter and Godsey.

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