|Rep. Bob Latta (R, OH-05)|
Washington, D. C. – At 1:25 a.m. on Wednesday,(R-Bowling Green) offered his remaining amendment totaling $70 million to cut additional spending from the Continuing Resolution, H.R. 1. House Speaker ’s (R-OH) unprecedented open process comes after four years of closed debate under past Democrat leadership. House Republicans have been faced with having to pass a Continuing Resolution after Democrats failed to pass a fiscal year 2011 budget.Cutting spending is a priority in helping create jobs and grow the economy. The more government borrows, spends and regulates, the harder it is for Americans to access capital needed to grow the economy and create jobs.
“With a forecasted deficit of over $1.6 trillion this year, equaling 10.9 percent of GDP, and the scheduled to triple in 10 years, I have serious concerns about increasing spending on programs that have already seen a surge in funding in recent years.
"The President's budget proposal released this week reflects a continued pattern of reckless spending and higher taxes. The spending binge must stop. The federal government is already borrowing $4 trillion from other countries, and the President’s projected budget-deficit is $1.1 trillion for fiscal year 2012. The federal government must live within a budget, just as Americans have done.
"I am committed to working late nights in order to keep the Republican Pledge to America, where we proposed rolling back to pre-stimulus, pre-bailout levels, cutting spending $100 billion this year alone. This is the only way America can move forward,” said Congressman Bob Latta.