Gallegely Votes for Cut, Cap and Balance Act

 U.S. Rep. Elton Gallegly, who represents Moorpark, joined the majority of House voters yesterday in voting for H.R. 2560, the Cut, Cap and Balance Act of 2011. The act would, basically, require the federal government to live within its means.

In a press release issued by Gallegly’s office, he outlines the act as follows:

• The act cuts total spending by $111 billion in fiscal year 2012, reducing non-defense discretionary spending below 2008 levels.
• It would also put into place statutory, enforceable caps to ratchet down the amount the government is allowed to spend each year, bringing spending into line with he historic average of 20 percent of GDP by 2021.
• And finally, it requires passage of a balanced budget amendment in order to raise the dept limit. It provides that the president can request a debt ceiling increase only if a qualifying balanced budget amendment passes Congress and is sent to the states for ratification.

“We are currently borrowing 40 cents of every dollar we spend and sending the bill to our children and grandchildren. Every child born today already owes more than $46,000 to our creditors,” Gallegly said. “We need to stop spending money we do not have and we need to stop now.”

The House of Representatives passed H.R. 2560 with a vote of 234 to 190; however, Democrates in the senate have already pledged to vote it down and word from the White House is, should the bill get that far, President Barack Obama will veto it.