June 30, 2012
RE: Council For Retirement Security, a program of Our Generation
Taxpayers are frustrated with Congress’ spending addiction. With a national debt approaching $16 trillion and a borrowing limit that will be reached shortly, Congress has few options. One way to instill a sense of fiscal responsibility is to freeze discretionary spending.
A freeze in discretionary spending would provide needed fiscal discipline to our country and reverses years of out-of-control spending. An approach that meets this goal is Representative Chuck Fleischmann’s (R-Tenn.) legislation, H.R. 4060, “the Freeze Government Spending Act of 2012.” This legislation would freeze discretionary spending until 2021. According to Rep. Fleischmann, if passed the bill would achieve the following:
- Establishes a discretionary spending cap of $949 billion, and freezes that cap through Fiscal Year 2021.
- Freezes federal discretionary spending, saving $856 billion (over $1 trillion with interest savings) more than the recent debt ceiling legislation.
- Saves $1.66 trillion (almost $2 trillion with interest savings) compared to President Obama’s FY 2013 budget proposal.
America can no longer afford to live outside its means. An immediate discretionary spending freeze is a needed step to put America back on a path toward economic prosperity.
We at the Council for Retirement Security, a program of Our Generation, a nonpartisan, non-profit grassroots citizen group, are dedicated to improving the lives of senior citizens through awareness and advocacy. I hope you find the above information useful and consider our viewpoints as you shape our nation’s spending priorities and other matters of vital importance to America’s expanding senior population.